87.320 - Dissolution by decree of court. - Nevada Statutes

87.320  Dissolution by decree of court.

      1.  On application by or for a partner the court shall decree a dissolution whenever:

      (a) A partner has been declared a lunatic in any judicial proceeding or is shown to be of unsound mind;

      (b) A partner becomes in any other way incapable of performing his or her part of the partnership contract;

      (c) A partner has been guilty of such conduct as tends to affect prejudicially the carrying on of the business;

      (d) A partner willfully or persistently commits a breach of the partnership agreement, or otherwise so conducts himself or herself in matters relating to the partnership business that it is not reasonably practicable to carry on the business in partnership with the partner;

      (e) The business of the partnership can only be carried on at a loss; or

      (f) Other circumstances render a dissolution equitable.

      2.  On the application of the purchaser of a partner’s interest under NRS 87.270 or 87.280:

      (a) After the termination of the specified term or particular undertaking; or

      (b) At any time if the partnership was a partnership at will when the interest was assigned or when the charging order was issued.

      [32:74:1931; 1931 NCL § 5028.31]