79-14-802 - Judicial dissolution. - Mississippi Statutes

§ 79-14-802. Judicial dissolution.
 

On application by or for a partner the chancery court for the county in which the office of the limited partnership is located may decree dissolution of a limited partnership whenever any of the following occurs: 
 

(a) It is not reasonably practicable to carry on the business in conformity with the partnership agreement; or 

(b) The general partners have been guilty of or have knowingly countenanced persistent and pervasive fraud or abuse of authority or persistent unfairness toward any partner, or the property of the limited partnership is being misapplied or wasted by the general partners. 
 

Sources: Laws,  1987, ch. 488, § 802, eff from and after January 1, 1988.