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Section 10-801 – Events of Dissolution

    A limited partnership is dissolved and its affairs shall be wound up on the first to occur of the following:         (1)    At the time or on the happening of events specified in the partnership agreement;         (2)    A consent to dissolution by all partners;         (3)    An event of withdrawal of a general partner unless:             (i)    At the time there is […]

Section 10-802 – Judicial Dissolution

    On application by or for a partner, the circuit court of the county in which the principal office of the limited partnership is located may decree dissolution of a limited partnership whenever it is not reasonably practicable to carry on the business in conformity with the partnership agreement.

Section 10-803 – Winding Up

    (a)    Unless otherwise 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 principal office of the limited partnership is located, on cause shown, may wind up […]

Section 10-804 – Distribution of Assets

    Upon the winding up of a limited partnership, the assets shall be distributed as follows:         (1)    To creditors, including partners who are creditors, to the extent permitted by law, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under § 10-601 or § 10-604 of this title;         (2)    Unless otherwise provided […]

Section 10-805 – Registration as Limited Liability Partnership

    (a)    A limited partnership may register as a limited liability partnership under § 9A-1001 of this article by:         (1)    Including, in the limited partnership’s certificate of limited partnership filed under § 10-201 of this title or in an amendment of its certificate of limited partnership filed under § 10-202 of this title, the information described in § […]