South Carolina Code 33-42-1430. Winding up
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 33-42-1430
- Partner: means a limited or general partner. See South Carolina Code 33-42-20
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Except as provided in the partnership agreement, the general partners who have not wrongfully dissolved a limited partnership or, if none, the limited partners, may wind up the limited partnership’s affairs; but the circuit court of the county in which the limited partnership’s office designated pursuant to § 33-42-50 (1) is located may wind up the limited partnership’s affairs upon application of any partner, his legal representative, or assignee.