14-8-32. Dissolution of partnership by court decree.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
On application by or for a partner the court shall decree a dissolution whenever:#
1. (1)
  A partner has been declared mentally incapacitated in any judicial proceeding or is shown to be of unsound mind;#
2. (2)
  A partner becomes in any other way incapable of performing his part of the partnership contract;#
3. (3)
  A partner has been guilty of such conduct as tends to affect prejudicially the carrying on of the business;#
4. (4)
  A partner willfully or persistently commits a breach of the partnership agreement or otherwise so conducts himself in matters relating to the partnership business that it is not reasonably practicable to carry on the business in partnership with him;#
5. (5)
  Other circumstances render a dissolution equitable.#
(b)
On the application of the purchaser of a partner’s interest under Code Section 14-8-27, the court shall decree a dissolution:#
1. (1)
  After the termination of the specified term or particular undertaking;#
2. (2)
  At any time if the partnership was a partnership at will when the interest was assigned.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 14-8-32, enacted by Ga. L. 1984, p. 1439, § 1.

Code Commission notes

Pursuant to Code Section 28-9-5, in 1986, a misspelling in the word ‘‘willfully’’ in paragraph (a)(4) was corrected.

Law reviews

For article, ‘‘2014 Georgia Corporation and Business Organization Case Law Developments,’’ see 20 Ga. St. B. J. 26 (April 2015).

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t14-(v12)-2017-pdf.pdf, Volume V12, 2017 edition, pages 923 to 924; merge action: carried; file SHA-256 f2fad2b71b39.

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