{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/50-73.121.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/50-73.121.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/50-73.121.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/50-73.121.html"}],"law_id":61925,"edition_id":1,"section_id":61925,"structure_id":14608,"section_number":"50-73.121","catch_line":"Statement of dissolution","history":"1996, c. 292; 2003, c. 567.","full_text":"A\n\nAfter dissolution, a partner who has not wrongfully dissociated may file a statement of dissolution for a partnership that has filed a statement of partnership authority that has not been canceled stating the name of the partnership, the identification number issued by the Commission to the partnership, and that the partnership has dissolved and is winding up its business.B\n\nA statement of dissolution cancels a filed statement of partnership authority for the purposes of subsection D of § 50-73.93 and is a limitation on authority for the purposes of subsection E of § 50-73.93.C\n\nFor the purposes of §§ 50-73.91 and 50-73.120, a person not a partner is deemed to have notice of the dissolution and the limitation on the partners’ authority as a result of the statement of dissolution 90 days after it is filed.D\n\nAfter filing and, if appropriate, recording a statement of dissolution, a dissolved partnership may file and, if appropriate, record a statement of partnership authority which will operate with respect to a person not a partner as provided in subsections D and E of § 50-73.93 in any transaction, whether or not the transaction is appropriate for winding up the partnership business.","order_by":null,"text":{"0":{"id":226085,"text":"After dissolution, a partner who has not wrongfully dissociated may file a statement of dissolution for a partnership that has filed a statement of partnership authority that has not been canceled stating the name of the partnership, the identification number issued by the Commission to the partnership, and that the partnership has dissolved and is winding up its business.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":226086,"text":"A statement of dissolution cancels a filed statement of partnership authority for the purposes of subsection D of § 50-73.93 and is a limitation on authority for the purposes of subsection E of § 50-73.93.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":226087,"text":"For the purposes of §§ 50-73.91 and 50-73.120, a person not a partner is deemed to have notice of the dissolution and the limitation on the partners’ authority as a result of the statement of dissolution 90 days after it is filed.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":226088,"text":"After filing and, if appropriate, recording a statement of dissolution, a dissolved partnership may file and, if appropriate, record a statement of partnership authority which will operate with respect to a person not a partner as provided in subsections D and E of § 50-73.93 in any transaction, whether or not the transaction is appropriate for winding up the partnership business.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":14608,"edition_id":1,"name":"Winding up Partnership Business","identifier":"8","label":"article","depth":3,"order_by":1,"parent_id":12958,"metadata":{},"date_created":"2026-06-26 03:48:52","date_modified":"2026-06-26 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dissolution","url":"\/50-73.120\/","token":"50\/2.2\/8\/50-73.120","metadata":false},{"id":61925,"structure_id":14608,"section_number":"50-73.121","catch_line":"Statement of dissolution","url":"\/50-73.121\/","token":"50\/2.2\/8\/50-73.121","metadata":false},{"id":63810,"structure_id":14608,"section_number":"50-73.122","catch_line":"Partner's liability to other partners after dissolution","url":"\/50-73.122\/","token":"50\/2.2\/8\/50-73.122","metadata":false},{"id":78618,"structure_id":14608,"section_number":"50-73.123","catch_line":"Settlement of accounts and contributions among partners","url":"\/50-73.123\/","token":"50\/2.2\/8\/50-73.123","metadata":false}],"previous_section":{"id":76746,"structure_id":14608,"section_number":"50-73.120","catch_line":"Partner's power to bind partnership after dissolution","url":"\/50-73.120\/","token":"50\/2.2\/8\/50-73.120","metadata":false},"next_section":{"id":63810,"structure_id":14608,"section_number":"50-73.122","catch_line":"Partner's liability to other partners after dissolution","url":"\/50-73.122\/","token":"50\/2.2\/8\/50-73.122","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/50-73.121\/","history_text":"

This law was first created in 1996. The record of its establishment is cataloged in chapter 292<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2003, chapter 567<\/a>.<\/p>","references":[{"id":76746,"section_number":"50-73.120","catch_line":"Partner's power to bind partnership after dissolution","order_by":null,"url":"\/50-73.120\/"},{"id":68742,"section_number":"50-73.136","catch_line":"Amendment of statement of registration; effect of statement of registration","order_by":null,"url":"\/50-73.136\/"},{"id":76467,"section_number":"50-73.79","catch_line":"Definitions","order_by":null,"url":"\/50-73.79\/"},{"id":59704,"section_number":"50-73.93","catch_line":"Statement of partnership authority","order_by":null,"url":"\/50-73.93\/"}],"refers_to":[{"id":76746,"section_number":"50-73.120","catch_line":"Partner's power to bind partnership after dissolution","order_by":null,"url":"\/50-73.120\/"},{"id":78463,"section_number":"50-73.91","catch_line":"Partner agent of partnership","order_by":null,"url":"\/50-73.91\/"},{"id":59704,"section_number":"50-73.93","catch_line":"Statement of partnership authority","order_by":null,"url":"\/50-73.93\/"}],"permalink":{"id":234907,"object_type":"law","relational_id":61925,"identifier":"50-73.121","token":"50\/2.2\/8\/50-73.121","url":"\/50-73.121\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/50-73.121\/","token":"50\/2.2\/8\/50-73.121","dublin_core":{"Title":"Statement of dissolution","Type":"Text","Format":"text\/html","Identifier":"\u00a7 50-73.121","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> After dissolution, a partner who has not wrongfully dissociated may file a statement<\/span> of dissolution for a partnership<\/span> that has filed a statement<\/span> of partnership<\/span> authority that has not been canceled stating the name of the partnership<\/span>, the identification number issued by the Commission<\/span> to the partnership<\/span>, and that the partnership<\/span> has dissolved and is winding up its business<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A statement<\/span> of dissolution cancels a filed statement<\/span> of partnership<\/span> authority for the purposes of subsection D of § 50-73.93<\/a> and is a limitation on authority for the purposes of subsection E of § 50-73.93<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> For the purposes of §§ 50-73.91<\/a> and 50-73.120<\/a>, a person<\/span> not a partner is deemed to have notice of the dissolution and the limitation on the partners’ authority as a result of the statement<\/span> of dissolution 90 days after it is filed. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> After filing and, if appropriate, recording a statement<\/span> of dissolution, a dissolved partnership<\/span> may file and, if appropriate, record a statement<\/span> of partnership<\/span> authority which will operate with respect to a person<\/span> not a partner as provided in subsections D and E of § 50-73.93<\/a> in any transaction, whether or not the transaction is appropriate for winding up the partnership<\/span> business<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSTATEMENT OF DISSOLUTION (\u00a7 50-73.121)\n\nA. After dissolution, a partner who has not wrongfully dissociated may file a\nstatement of dissolution for a partnership that has filed a statement of\npartnership authority that has not been canceled stating the name of the\npartnership, the identification number issued by the Commission to the\npartnership, and that the partnership has dissolved and is winding up its\nbusiness.\n\nB. A statement of dissolution cancels a filed statement of partnership authority\nfor the purposes of subsection D of § 50-73.93 and is a limitation on\nauthority for the purposes of subsection E of § 50-73.93.\n\nC. For the purposes of §§ 50-73.91 and 50-73.120, a person not a\npartner is deemed to have notice of the dissolution and the limitation on the\npartners’ authority as a result of the statement of dissolution 90 days\nafter it is filed.\n\nD. After filing and, if appropriate, recording a statement of dissolution, a\ndissolved partnership may file and, if appropriate, record a statement of\npartnership authority which will operate with respect to a person not a partner\nas provided in subsections D and E of § 50-73.93 in any transaction,\nwhether or not the transaction is appropriate for winding up the partnership\nbusiness.\n\nHISTORY: 1996, c. 292; 2003, c. 567.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}