29-323. Events of withdrawal


Except as approved by the specific written consent of all partners at the time, a
person ceases to be a general partner of a limited partnership upon the happening of any
of the following events:


1. The general partner withdraws from the limited partnership as provided in
section 29-332;


2. The general partner ceases to be a member of the limited partnership as provided
in section 29-340;


3. The general partner is removed as a general partner in accordance with the
partnership agreement;


4. Unless otherwise provided in writing in the partnership agreement, the general
partner:


(a) Makes an assignment for the benefit of creditors;


(b) Files a voluntary petition in bankruptcy;


(c) Is adjudicated a bankrupt or insolvent;


(d) Files a petition or answer seeking for himself any reorganization, arrangement,
composition, readjustment, liquidation, dissolution or similar relief under any statute,
law or regulation;


(e) Files an answer or other pleading admitting or failing to contest the material
allegations of a petition filed against him in any proceeding of this nature; or


(f) Seeks, consents to or acquiesces in the appointment of a trustee, receiver or
liquidator of the general partner or of all or any substantial part of his properties;


5. Unless otherwise provided in writing in the partnership agreement, one hundred
twenty days after the commencement of any proceeding against the general partner seeking
reorganization, arrangement, composition, readjustment, liquidation, dissolution or
similar relief under any statute, law or regulation, the proceeding has not been
dismissed, or if within ninety days after the appointment without his consent or
acquiescence of a trustee, receiver or liquidator of the general partner or of all or any
substantial part of his properties, the appointment is not vacated or stayed or within
ninety days after the expiration of any such stay, the appointment is not vacated;


6. In the case of a general partner who is a natural person;


(a) His death; or


(b) The entry by a court of competent jurisdiction adjudicating him incompetent to
manage his person or his estate;


7. In the case of a general partner who is acting as a general partner by virtue of
being a trustee of a trust, the termination of the trust but not merely the substitution
of a new trustee;


8. In the case of a general partner that is a separate partnership, the dissolution
and commencement of winding up of the separate partnership;


9. In the case of a general partner that is a corporation, the filing of articles
of dissolution for the corporation or the revocation of its charter; or


10. In the case of an estate, the distribution by the fiduciary of the estate's
entire interest in the partnership.