New Jersey § 42:1a-41
Full text of New Jersey New Jersey Statutes § 42:1a-41, with citation guidance and answers to common questions.
§ 42:1a-41.
a. After dissolution, a partner who has not wrongfully dissociated may participate
in winding up the partnership's business, but on application of any partner, partner's
legal representative, or transferee, a court of competent jurisdiction, for good cause
shown, may order judicial supervision of the winding up. b. The legal representative of the last surviving partner may wind up a partnership's
business. c. A person winding up a partnership's business shall preserve the partnership business
or property as a going concern for a reasonable time, prosecute and defend actions
and proceedings, whether civil, criminal, or administrative, settle and close the
partnership's business, dispose of and transfer the partnership's property, discharge
the partnership's liabilities, distribute the assets of the partnership pursuant to
section 45 of this act, 1 settle disputes by mediation or arbitration, and perform other necessary acts. 1
N.J.S.A. § 42:1A-45.
Frequently Asked Questions About New Jersey § 42:1a-41
What does New Jersey Statutes § 42:1a-41 cover?
Section 42:1a-41 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 42:1a-41?
A common citation format is "New Jersey Statutes § 42:1a-41" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 42:1a-41 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.