Section 803 - Right to wind up partnership business. - Maryland Statutes

§ 9A-803. Right to wind up partnership business.
 

(a)  Participation and supervision.- After dissolution, a partner who has not wrongfully dissociated may participate in winding up the partnership's business, but on application of any partner, partner's legal representative, or transferee, the circuit court for the county in which the principal office of the partnership is located, for good cause shown, may order judicial supervision of the winding up. 

(b)  Legal representative may participate.- The legal representative of the last surviving partner may wind up a partnership's business. 

(c)  Authority of person winding up.- A person winding up a partnership's business may preserve the partnership business or property as a going concern for a reasonable time, prosecute and defend actions and proceedings, whether civil, criminal, or administrative, settle and close the partnership's business, dispose of and transfer the partnership's property, discharge the partnership's liabilities, distribute the assets of the partnership pursuant to § 9A-807 of this subtitle, settle disputes by mediation or arbitration, and perform other necessary acts. 
 

[1997, ch. 654, § 2; 1998, ch. 743, §§ 1, 3.]