(a) After dissolution, a partner that has not wrongfully dissociated may participate in winding up the partnership’s activities and affairs, but on application of any partner, partner’s legal representative, or transferee, the Superior Court, for good cause shown, may order judicial supervision of the winding up.
(b) The legal representative of the last surviving partner may wind up a partnership’s activities and affairs.
(c) A person winding up a partnership’s activities and affairs may preserve the partnership activities 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 activities, dispose of and transfer the partnership’s property, discharge the partnership’s liabilities, distribute the assets of the partnership pursuant to § 29-608.07, settle disputes by mediation or arbitration, and perform other necessary acts.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(f)(8)(D), 59 DCR 13171.)
Prior Codifications1981 Ed., § 41-158.3.
2001 Ed., § 33-108.03.
Section ReferencesThis section is referenced in § 29-606.03.
Effect of AmendmentsThe 2013 amendment by D.C. Law 19-210 substituted “activities and affairs” for “business” in (a) and (b) and for the first occurrence of “business” in (c); and substituted “activities” for the second and third occurrences of “business” in (c).
Editor's NotesUniform Law: This section is based on § 803 of the Uniform Partnership Act (1997 Act).
Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.