                                 CODE OF VIRGINIA

DISSOLUTION GENERALLY (§ 50-73.49)

A limited partnership formed under this chapter or that has filed an amended and
restated certificate of limited partnership in compliance with subsection D of
§ 50-73.77 is dissolved and its affairs shall be wound up upon the happening of
the first to occur of the following events:

1. At the time or upon the occurrence of any events specified in the certificate
of limited partnership or in writing in the partnership agreement;

2. Upon the unanimous written consent of the partners;

3. Upon an event of withdrawal of a general partner 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 partnership agreement
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 general partners 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;

4. Entry of a decree of judicial dissolution under &#xA7; 50-73.50;

5. Automatic cancellation of its existence pursuant to &#xA7; 50-73.52:5; or

6. Involuntary cancellation of its existence pursuant to &#xA7; 50-73.52:6.

HISTORY: 1985, c. 607; 1987, c. 702; 1996, c. 255; 2007, c. 631; 2008, cc. 586,
588, 770; 2009, c. 167; 2015, c. 614.