29-1072. 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. If the partnership is a
limited liability partnership, its status as a limited liability partnership continues
until termination.
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 both:
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.
2. The rights of a third party accruing under section 29-1074, paragraph 1 or
arising out of conduct in reliance on the dissolution before the third party knew or
received a notification of the waiver are not adversely affected.
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