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Ohio Rev. Code Ann. § 1776.63

Right to wind up partnership business

Known as the Ohio Uniform Partnership Act

The act spans §§ 1776–1776 (73 sections).

Applied in 2 court decisions — leading case In re Johnson (2017)

Most recently applied in In re Johnson (April 2019)

Effective: August 6, 2008; Latest Legislation: House Bill 332 - 127th General Assembly

(A) After dissolution, a partner who has not wrongfully dissociated may participate in winding up the partnership's business, but on the application of any partner, a partner's legal representative, or a transferee, the court of common pleas 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 business.

(C) 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 or make reasonable provision for the partnership's liabilities, distribute the assets of the partnership pursuant to section 1776.67 of the Revised Code, settle disputes by mediation or arbitration, and perform other necessary acts.

Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.