620.8802 Partnership continues after dissolution.—
(1) Subject to subsection (2), 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.
(2) At any time after the dissolution of a partnership before the winding up of partnership 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:
(a) 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 is as if the dissolution had never occurred; and
(b) The rights of a third party accruing under s. 620.8804(1) 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.
History.—s. 13, ch. 95-242.
Section: Previous 620.8603 620.8701 620.8702 620.8703 620.8704 620.8705 620.8801 620.8802 620.8803 620.8804 620.8805 620.8806 620.8807 620.8911 620.8912 NextLast modified: September 23, 2016