362.305 Dissolution by decree of court.
190 words·~1 min read·
/ky/chapter-362/362-305A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)On application by or for a partner the court shall decree a dissolution whenever:
(a)A partner has been adjudged mentally disabled by a court of competent
jurisdiction in any judicial proceeding or is shown to be of unsound mind,
(b)A partner becomes in any other way incapable of performing his part of the
partnership contract,
(c)A partner has been guilty of such conduct as tends to affect prejudicially the
carrying on of the business,
(d)A partner willfully or persistently commits a breach of the partnership
agreement, or otherwise so conducts himself in matters relating to the
partnership business that it is not reasonably practicable to carry on the
business in partnership with him,
(e)The business of the partnership can only be carried on at a loss,
(f)Other circumstances render a dissolution equitable.
(2)On the application of the purchaser of a partner's interest under KRS 362.280 or
362.285:
(a)After the termination of the specified term or particular undertaking,
(b)At any time if the partnership was a partnership at will when the interest was
assigned or when the charging order was issued.