§ 7-13-44 - Nonjudicial dissolution. - Rhode Island Statutes

SECTION 7-13-44

   § 7-13-44  Nonjudicial dissolution. –A limited partnership is dissolved and its affairs shall be wound up upon thehappening of the first to occur of the following:

   (1) At the time or upon the happening of any of eventsspecified in the partnership agreement;

   (2) Written consent of all partners;

   (3) Unless otherwise provided in the partnership agreement,an event of withdrawal of a general partner unless at the time there is atleast one other general partner and the partnership agreement permits thebusiness of the limited partnership to be carried on by the remaining generalpartner and that partner does so, but the limited partnership is not dissolvedand is not required to be wound up by reason of any event of withdrawal, if,within ninety (90) days after the withdrawal, a majority interest of thepartners agrees in writing to continue the business of the limited partnershipand to the appointment of one or more additional general partners if necessaryor desired; or

   (4) Entry of a decree of judicial dissolution under §7-13-45.