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Code · Pennsylvania · Title 15 — CORPORATIONS AND UNINCORPORATED ASSOCIATIONS · Chapter 87

§ 8703. Continuity of life.

99 words·~1 min read·/pa/title-15/chapter-87/8703

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§ 8703. Continuity of life.
An electing partnership shall not be dissolved by the death, dissolution, insanity, retirement, resignation or expulsion of a partner or by the bankruptcy of a partner or the partnership. Changes in the composition of the partnership shall be evidenced by the prompt filing of a statement of amendment under section 8701(a) (relating to application of chapter). If fewer than two partners who are not bankrupt or insane remain, the court shall appoint a custodian of the partnership property for the purpose of continuing its business or, upon cause shown, winding up its affairs.
15c8704s
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