(1) After dissolution, a partner who has not wrongfully dissociated may participate in winding up the partnerships business, but on application of any partner, partners legal representative or transferee, the circuit court, for good cause shown, may order judicial supervision of the winding up. (2) The legal representative of the last surviving partner may wind up a partnerships business. (3) A person winding up a partnerships 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 partnerships business, dispose of and transfer the partnerships property, discharge the partnerships liabilities, distribute the assets of the partnership pursuant to ORS 67.315, settle disputes by mediation, arbitration or otherwise, and perform other necessary acts.
‹ Prev All Oregon 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.