Okla. Stat. tit. 54, § 54-1-802
This is the official text of Okla. Stat. tit. 54, § 54-1-802, part of Oklahoma’s Stat. tit. 54, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 54,." Browse the sections below, each linked to its official government source.
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Partnership Continues After Dissolution
Official statutory text
Partnership Continues After Dissolution. (a) Subject to
subsection (b) of this section, a partnership continues after
dissolution only for the purpose of winding up its business. The
partnership is terminated when the winding up of its business is
completed.
(b) At any time after the dissolution of a partnership and
before the winding up of its business is completed, all of the
partners, including any dissociating partner other than a wrongfully
dissociating partner, may waive the right to have the partnership's
business wound up and the partnership terminated.
In that event:
(1) the partnership resumes carrying on its business as if
dissolution had never occurred, and any liability incurred by the
partnership or a partner after the dissolution and before the waiver
is determined as if dissolution had never occurred; and
(2) the rights of a third party accruing under paragraph (1) of
Section 43 of this act or arising out of conduct in reliance on the
dissolution before the third party knew or received a notification
of the waiver may not be adversely affected.
subsection (b) of this section, a partnership continues after
dissolution only for the purpose of winding up its business. The
partnership is terminated when the winding up of its business is
completed.
(b) At any time after the dissolution of a partnership and
before the winding up of its business is completed, all of the
partners, including any dissociating partner other than a wrongfully
dissociating partner, may waive the right to have the partnership's
business wound up and the partnership terminated.
In that event:
(1) the partnership resumes carrying on its business as if
dissolution had never occurred, and any liability incurred by the
partnership or a partner after the dissolution and before the waiver
is determined as if dissolution had never occurred; and
(2) the rights of a third party accruing under paragraph (1) of
Section 43 of this act or arising out of conduct in reliance on the
dissolution before the third party knew or received a notification
of the waiver may not be adversely affected.
Status: in_force · Read it on the official government site
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