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Georgia State Code
Title      14
Chapter       9  
Section Navigation   100 ... 109       201 ... 206.4 
 206.5 ... 402       403 ... 604   
     605 ... 803       804 ... 907   
   908 ... 1201     1202 ... 1204    
Section<<< 605 606 701 702 703 704 705 801 802 803 >>>  
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(a) After dissolution, except as provided in the partnership agreement, the general partners who have not withdrawn or, if none, the limited partners may wind up the limited partnership's affairs but, if one or more of such general partners have engaged in wrongful conduct,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.

Friday July 25 07:47 CDT


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