42:3-15. Association continued for closing affairs
83 words·~1 min read·
/nj/title-42/chapter-3/42-3-15A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any limited partnership association formed under authority of article 1 of this chapter (s. 42:3-1 et seq.) shall, upon its expiration by its own limitations or its dissolution otherwise, be continued as such an association to enable it to prosecute and defend actions, to settle and close its affairs, dispose of and convey its property and assets of all kinds, both real and personal, and to divide its capital, but not for the purpose of continuing the business for which it was established.