Title 14, Chapter 8, Section 31
( 14-8-31)
(a) Dissolution is caused: (1) By the termination of the definite term or particular
undertaking specified in the agreement; (2) By the express will or withdrawal of any partner; (3) By the expulsion of any partner from the business in
accordance with the terms of the agreement between the partners; (4) By any event which makes it unlawful for the business of the
partnership to be carried on or for the members to carry it on in
partnership; (5) By the death of any partner, unless there is a written
agreement between the partners expressly providing otherwise; (6) By decree of court under Code Section 14-8-32; (7) In other circumstances as provided in the agreement between
the partners. (b) Unless otherwise provided in the partnership agreement,
dissolution is not caused solely by admission of a new partner. (c) Subject to contrary agreement of the partners, a dissolution is
not in contravention of the partnership agreement if it is caused at
any time by the express will of all of the partners who have not
assigned their interests or suffered them to be charged for their
separate debts. |