Delaware Code § 6-15-803

Right to wind up partnership business or affairs
Open in Lexace · Ask the AI about this section
(a) A partner at the time of dissolution, including a partner who has dissociated but not wrongfully, may participate in winding up the
partnership's business or affairs, but on application of any partner or a partner's legal representative or transferee, the Court of Chancery
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 or affairs.
(c) The persons winding up the partnership's business or affairs may, in the name of, and for and on behalf of, the partnership, prosecute
and defend suits, whether civil, criminal or administrative, gradually settle and close the partnership's business or affairs, dispose of
and convey the partnership's property, discharge or make reasonable provision for the partnership's liabilities, distribute to the partners
pursuant to § 15-807 of this title any remaining assets of the partnership, and perform other acts which are necessary or convenient to
the winding up of the partnership's business or affairs.

‹ Prev All Delaware sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.