New York Partnership Law Article 6 - DISSOLUTION AND WINDING UP.

• 60 - Dissolution Defined.
  The dissolution of a partnership is the change in the relation of the partners caused by any partner ceasing to be associated in the carrying...
• 61 - Partnership Not Terminated by Dissolution.
  On dissolution the partnership is not terminated, but continues until the winding up of partnership affairs is completed.
• 62 - Causes of Dissolution.
  Dissolution is caused: 1. Without violation of the agreement between the partners, (a) By the termination of the definite term or particular undertaking specified in...
• 63 - Dissolution by Decree of Court.
  The court shall decree a dissolution. 1. On application by or for a partner whenever: (a) A partner has been declared incompetent in any judicial...
• 64 - General Effect of Dissolution on Authority of Partner.
  Except so far as may be necessary to wind up partnership affairs or to complete transactions begun but not then finished, dissolution terminates all authority...
• 65 - Right of Partner to Contribution From Copartners After Dissolution.
  Where the dissolution is caused by the act, death or bankruptcy of a partner, each partner is liable to his copartners for his share of...
• 66 - Power of Partner to Bind Partnership to Third Persons After Dissolution.
  (1) After dissolution a partner can bind the partnership except as provided in subdivision three (a) By any act appropriate for winding up partnership affairs...
• 67 - Effect of Dissolution on Partner's Existing Liability.
  1. The dissolution of the partnership does not of itself discharge the existing liability of any partner. 2. A partner is discharged from any existing...
• 68 - Right to Wind Up.
  Unless otherwise agreed the partners who have not wrongfully dissolved the partnership or the legal representative of the last surviving partner, not bankrupt, has the...
• 69 - Rights of Partners to Application of Partnership Property.
  69. Rights of partners to application of partnership property 1. When dissolution is caused in any way, except in contravention of the partnership agreement, each...
• 70 - Rights Where Partnership is Dissolved for Fraud, or Misrepresentation.
  Where a partnership contract is rescinded on the ground of the fraud or misrepresentation of one of the parties thereto, the party entitled to rescind...
• 71 - Rules for Distribution.
  In settling accounts between the partners after dissolution, the following rules shall be observed, subject to any agreement to the contrary: (a) The assets of...
• 71-a - Payment of Wages by Receivers.
  Upon the appointment of a receiver of a partnership the wages of the employees of such partnership shall be preferred to every other debt or
• 72 - Liability of Persons Continuing the Business in Certain Cases.
  1. When any new partner is admitted into an existing partnership, or when any partner retires and assigns (or the representative of the deceased partner...
• 73 - Rights of Retiring or Estate of Deceased Partner When the Business is Continued.
  When any partner retires or dies, and the business is continued under any of the conditions set forth in section seventy-two, subdivisions one, two, three,...
• 74 - Accrual of Actions.
  The right to an account of his interest shall accrue to any partner, or his legal representative, as against the winding up partners or the...
• 75 - Continuance of Partnership Business During Action for Accounting.
  In an action brought to dissolve a partnership, or for an accounting between partners, or affecting the continued prosecution of the business, the court may,...

Last modified: February 3, 2019