State Codes and Statutes

Statutes > New-york > Ptr > Article-6 > 75

§   75.   Continuance   of  partnership  business  during  action  for  accounting.  In an action brought to dissolve a partnership, or  for  an  accounting  between  partners, or affecting the continued prosecution of  the business, the court may, in its discretion, by order, authorize  the  partnership  business to be continued, during the pendency of the action  by one or more of the partners, upon their executing and filing with the  clerk an undertaking, in such a sum and with such sureties as the  order  prescribes,  to  the effect that they will obey all orders of the court,  in the action,  and  perform  all  things  which  the  judgment  therein  requires  them to perform. The court may impose such other conditions as  it deems proper, and it may in its discretion  at  any  time  thereafter  require  a new undertaking to be given. The court may also ascertain the  value of the partnership property, and of the interest of the respective  partners by a reference or  otherwise,  and  may  direct  an  accounting  between  any  of  the partners; and the judgment may make such provision  for the payment to the retiring partners, for their interest,  and  with  respect  to  the  rights  of  creditors,  the  title  to the partnership  property, and otherwise,  as  justice  requires,  with  or  without  the  appointment of a receiver, or a sale of the partnership property.

State Codes and Statutes

Statutes > New-york > Ptr > Article-6 > 75

§   75.   Continuance   of  partnership  business  during  action  for  accounting.  In an action brought to dissolve a partnership, or  for  an  accounting  between  partners, or affecting the continued prosecution of  the business, the court may, in its discretion, by order, authorize  the  partnership  business to be continued, during the pendency of the action  by one or more of the partners, upon their executing and filing with the  clerk an undertaking, in such a sum and with such sureties as the  order  prescribes,  to  the effect that they will obey all orders of the court,  in the action,  and  perform  all  things  which  the  judgment  therein  requires  them to perform. The court may impose such other conditions as  it deems proper, and it may in its discretion  at  any  time  thereafter  require  a new undertaking to be given. The court may also ascertain the  value of the partnership property, and of the interest of the respective  partners by a reference or  otherwise,  and  may  direct  an  accounting  between  any  of  the partners; and the judgment may make such provision  for the payment to the retiring partners, for their interest,  and  with  respect  to  the  rights  of  creditors,  the  title  to the partnership  property, and otherwise,  as  justice  requires,  with  or  without  the  appointment of a receiver, or a sale of the partnership property.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Ptr > Article-6 > 75

§   75.   Continuance   of  partnership  business  during  action  for  accounting.  In an action brought to dissolve a partnership, or  for  an  accounting  between  partners, or affecting the continued prosecution of  the business, the court may, in its discretion, by order, authorize  the  partnership  business to be continued, during the pendency of the action  by one or more of the partners, upon their executing and filing with the  clerk an undertaking, in such a sum and with such sureties as the  order  prescribes,  to  the effect that they will obey all orders of the court,  in the action,  and  perform  all  things  which  the  judgment  therein  requires  them to perform. The court may impose such other conditions as  it deems proper, and it may in its discretion  at  any  time  thereafter  require  a new undertaking to be given. The court may also ascertain the  value of the partnership property, and of the interest of the respective  partners by a reference or  otherwise,  and  may  direct  an  accounting  between  any  of  the partners; and the judgment may make such provision  for the payment to the retiring partners, for their interest,  and  with  respect  to  the  rights  of  creditors,  the  title  to the partnership  property, and otherwise,  as  justice  requires,  with  or  without  the  appointment of a receiver, or a sale of the partnership property.

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