15 Pennsylvania Consolidated Statutes § 8703 - Continuity Of Life

§ 8703. Continuity of life.

An electing partnership shall not be dissolved by the death, dissolution, insanity, retirement, resignation or expulsion of a partner or by the bankruptcy of a partner or the partnership. Changes in the composition of the partnership shall be evidenced by the prompt filing of a statement of amendment under section 8701(a) (relating to application of chapter). If fewer than two partners who are not bankrupt or insane remain, the court shall appoint a custodian of the partnership property for the purpose of continuing its business or, upon cause shown, winding up its affairs.

Section: Previous  8701  8702  8703  8704  8705  8706  8707  8708    Next

Last modified: October 8, 2016