Oregon Revised Statutes Chapter 70 § 70.325 — When
Oregon Revised Statutes Chapter 70 ·
Oregon Code § 70.325·Enacted ·Last updated March 01, 2026
Statute Text
When
dissolution occurs.
A limited partnership is dissolved and its affairs shall be wound up when the
first of any of the following events occurs:
(1) Upon reaching
the time for dissolution specified in the certificate of limited partnership.
(2) Upon the
happening of events specified in writing in the partnership agreement.
(3) By the vote
or such other action of the partners as is provided in writing in the
partnership agreement, or if the partnership agreement does not so provide in
writing, by the written consent of all partners.
(4) An event of
withdrawal of a general partner unless at the time there is at least one other
general partner and the written provisions of the partnership agreement permit
the business of the limited partnership to be carried on by the remaining
general partner and that partner does so. However, a limited partnership is not
dissolved under this subsection and is not required to be wound up by reason of
any event of withdrawal if, not later than the 90th day after the withdrawal,
all partners agree in writing to continue the business of the limited
partnership and to the appointment of one or more additional general partners
if necessary or desired.
(5) Entry of a
judgment or judicial order of involuntary dissolution under ORS 70.330. [1985
c.677 §45; 1987 c.543 §27]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 70.325
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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