Title 14, Chapter 9, Section 803
( 14-9-803)
(a) After dissolution, except as provided in the partnership
agreement, the general partners who have not withdrawn or, if none,
the limited partners may wind up the limited partnership's affairs
but, if one or more of such general partners have engaged in
wrongful conduct, or upon other cause shown, the court may wind up
the limited partnership's affairs upon application of a partner, his
legal representative, or assignee. (b) Unless otherwise provided in writing in the partnership
agreement, the persons winding up the limited partnership's affairs
may, in the name of, and for and on behalf of, the limited
partnership: (1) Prosecute and defend suits, whether civil, criminal, or
administrative; (2) Settle and close the limited partnership's business; (3) Dispose of and convey the limited partnership's property for
cash; (4) Discharge the limited partnership's liabilities; and (5) Distribute to the partners any remaining assets of the limited
partnership. |