N.Y. Partnership Law 109 – Effect of retirement, death or insanity of a general partner
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§ 109. Effect of retirement, death or insanity of a general partner. The retirement, death or insanity of a general partner dissolves the partnership, unless the business is continued by the remaining general partners
Terms Used In N.Y. Partnership Law 109
- 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.
(a) Under a right so to do stated in the certificate, or,
(b) With the consent of all members.