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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>54868</law_id><section_number>50-73.49</section_number><catch_line>Dissolution generally</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>50-73.12</reference><reference>50-73.15</reference><reference>50-73.69</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="50">Partnerships</unit><unit label="chapter" level="2" order_by="1" identifier="2.1">Virginia Revised Uniform Limited Partnership Act</unit><unit label="article" level="3" order_by="1" identifier="8">Dissolution</unit></structure><text>
						<section><p>A limited partnership formed under this chapter or that has filed an amended and restated <span class="dictionary">certificate of limited partnership</span> in compliance with subsection D of &#xA7;&#xA0;<a class="law" title="Transition and savings provisions" href="/50-73.77/">50-73.77</a> is dissolved and its affairs shall be wound up upon the happening of the first to occur of the following events:</p></section>
						<section id="1"><p><span class="prefix-number">1.</span> At the time or upon the occurrence of any events specified in the <span class="dictionary">certificate of limited partnership</span> or in writing in the <span class="dictionary">partnership agreement</span>; <a id="paragraph-201293" class="section-permalink" href="https://vacode.org/50-73.49/#1"><i class="fa fa-link"/></a></p></section>
						<section id="2"><p><span class="prefix-number">2.</span> Upon the unanimous written consent of the <span class="dictionary">partners</span>; <a id="paragraph-201294" class="section-permalink" href="https://vacode.org/50-73.49/#2"><i class="fa fa-link"/></a></p></section>
						<section id="3"><p><span class="prefix-number">3.</span> Upon an <span class="dictionary">event of withdrawal of a general partner</span> unless:
			a. At the time there is at least one other general partner, in which event, unless otherwise provided in the written provisions of the <span class="dictionary">partnership agreement</span> or agreed upon by all remaining partners, the limited partnership is not dissolved and is not required to be wound up by reason of the event of withdrawal; or
			b. Within 90 days after the withdrawal, all remaining partners agree in writing to continue the business of the limited partnership and to the appointment of one or more additional <span class="dictionary">general partners</span> if necessary or desired, in which event the limited partnership is not dissolved and is not required to be wound up by reason of the event of withdrawal; <a id="paragraph-201295" class="section-permalink" href="https://vacode.org/50-73.49/#3"><i class="fa fa-link"/></a></p></section>
						<section id="4"><p><span class="prefix-number">4.</span> Entry of a <span class="dictionary">decree</span> of judicial dissolution under &#xA7; <a class="law" title="Judicial dissolution" href="/50-73.50/">50-73.50</a>; <a id="paragraph-201296" class="section-permalink" href="https://vacode.org/50-73.49/#4"><i class="fa fa-link"/></a></p></section>
						<section id="5"><p><span class="prefix-number">5.</span> Automatic cancellation of its existence pursuant to &#xA7; <a class="law" title="Automatic cancellation of limited partnership existence" href="/50-73.52_5/">50-73.52:5</a>; or <a id="paragraph-201297" class="section-permalink" href="https://vacode.org/50-73.49/#5"><i class="fa fa-link"/></a></p></section>
						<section id="6"><p><span class="prefix-number">6.</span> Involuntary cancellation of its existence pursuant to &#xA7; <a class="law" title="Involuntary cancellation of limited partnership existence" href="/50-73.52_6/">50-73.52:6</a>. <a id="paragraph-201298" class="section-permalink" href="https://vacode.org/50-73.49/#6"><i class="fa fa-link"/></a></p></section></text><history>1985, c. 607; 1987, c. 702; 1996, c. 255; 2007, c. 631; 2008, cc. 586, 588, 770; 2009, c. 167; 2015, c. 614.</history><metadata></metadata></law>
