South Carolina Code 33-41-1020. Right to wind up partnership affairs
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Terms Used In South Carolina Code 33-41-1020
- Court: includes every court and judge having jurisdiction in the case;
(2) "Business" includes every trade, occupation, or profession;
(3) "Bankrupt" includes a bankrupt under the Federal Bankruptcy Act or an insolvent under any state insolvent act;
(4) "Conveyance" includes every assignment, lease, mortgage, or encumbrance;
(5) "Real property" includes land and any interest or estate in land; and
(6) "Registered limited liability partnership" includes a partnership formed pursuant to an agreement governed by the laws of this State, registered under § 33-41-1110 and complying with §§ 33-41-1120 and 33-41-1130. See South Carolina Code 33-41-20 - 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.
Unless otherwise agreed the partners who have not wrongfully dissolved the partnership or the legal representative of the last surviving partner, nor bankrupt, has the right to wind up the partnership affairs. But any partner, his legal representative or his assignee, upon cause shown, may obtain a winding up by the court.