Connecticut § 34-373 - Partnership continues after dissolution.
Full text of Connecticut Connecticut General Statutes § 34-373 — Partnership continues after dissolution., with citation guidance and answers to common questions.
§ 34-373. Partnership continues after dissolution.
Sec. 34-373. Partnership continues after dissolution. (a) Subject to subsection (b) of this section, a partnership continues after dissolution only for the purpose of winding up its business. The partnership is terminated when the winding up of its business is completed.
(b) At any time after the dissolution of a partnership and before the winding up of its business is completed, all of the partners, including any dissociating partner other than a wrongfully dissociating partner, may waive the right to have the partnership's business wound up and the partnership terminated. In that event: (1) The partnership resumes carrying on its business as if dissolution had never occurred, and any liability incurred by the partnership or a partner after the dissolution and before the waiver is determined as if dissolution had never occurred; and (2) the rights of a third party accruing under subdivision (1) of section 34-375 or arising out of conduct in reliance on the dissolution before the third party knew or received a notification of the waiver may not be adversely affected.
(P.A. 95-341, S. 40, 58.)
History: P.A. 95-341 effective July 1, 1997.
A partnership is terminated when its business is put in order for the purpose of bringing the partnership to an end by the process of settling accounting and liquidating assets and when it is then brought to an end, and, in this case, the partnership continued to exist after its sole asset had been liquidated and while the partners were engaged in the process of litigation concerning the distribution of partnership assets. 112 CA 213.
Frequently Asked Questions About Connecticut § 34-373
What does Connecticut General Statutes § 34-373 cover?
Section 34-373 ("Partnership continues after dissolution.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 34-373?
A common citation format is "Connecticut General Statutes § 34-373" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 34-373 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.