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Official Code of Georgia Annotated

Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 9. REVISED UNIFORM LIMITED PARTNERSHIP ACT · Article 8. DISSOLUTION

14-9-801. Events triggering dissolution.

Active

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

  1. A limited partnership is dissolved and its affairs must be wound up upon the first of the following to occur:

  2. (1)

    Events specified in writing in the partnership agreement;#

  3. (2)

    Written consent of all partners;#

  4. (3)

    An event of withdrawal of a general partner unless:#

    1. (A)

      There remains at least one other general partner and the written provisions of the partnership agreement permit the business of the limited partnership to be carried on by the remaining general partner or general partners alone or together with new general partners, and that partner or those general partners do so; or#

    2. (B)

      Within 90 days after the withdrawal, all partners other than the general partner with respect to which the event of withdrawal has occurred (or such partners as are provided for in the written provisions of the partnership agreement) agree in writing to continue the business of the limited partnership and, if there is no remaining general partner, to the appointment, effective as of the date of withdrawal, of one or more new general partners; or#

  5. (4)

    Entry of a decree of judicial dissolution under Code Section 14-9-802.#

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, § 14-9-801, enacted by Ga. L. 1988, p. 1016, § 1; Ga. L. 1989, p. 931, § 13; Ga. L. 1994, p. 161, § 3; Ga. L. 1996, p. 787, § 13.

Law reviews

For note on 1989 amendment to this Code section, see 6 Ga. St. U. L. Rev. 184 (1989).

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 1031 to 1032; merge action: carried; file SHA-256 f2fad2b71b39.