{"data":{"id":"us-ak/as-32.06.801","jurisdiction":"us-ak","citation":"AS 32.06.801","heading":"Events causing dissolution and winding up of partnership business.","body":"A partnership is dissolved, and its business must be wound up, only on the occurrence of any of the following events:\n(1) in a partnership at will, when the partnership has notice from a partner, other than a partner who is dissociated under AS 32.06.601(2) — (10), of that partner's express will to withdraw as a partner, or on a later date specified by the partner;\n(2) in a partnership for a definite term or particular undertaking,\n(A) within 90 days after a partner's dissociation by death or by other event under AS 32.06.601(6) — (10) or by wrongful dissociation under AS 32.06.602(b), at least one-half of the remaining partners state their express will to wind up the partnership business; in this subparagraph, a partner's rightful dissociation under AS 32.06.602(b)(2)(A) constitutes the expression of that partner's will to wind up the partnership business;\n(B) the express will of all of the partners to wind up the partnership business; or\n(C) the expiration of the term or the completion of the undertaking;\n(3) an event agreed to in the partnership agreement resulting in the winding up of the partnership business;\n(4) an event that makes it unlawful for all or substantially all of the business of the partnership to be continued, but a cure of illegality within 90 days after notice to the partnership of the event is effective retroactively to the date of the event for purposes of this section;\n(5) on application by a partner, a judicial determination that\n(A) the economic purpose of the partnership is likely to be unreasonably frustrated;\n(B) another partner has engaged in conduct relating to the partnership business that makes it not reasonably practicable to carry on the business in partnership with that partner; or\n(C) it is not otherwise reasonably practicable to carry on the partnership business in conformity with the partnership agreement; or\n(6) on application by a transferee of a partner's transferable interest, a judicial determination that it is equitable to wind up the partnership business\n(A) after the expiration of the term or completion of the undertaking if the partnership was for a definite term or particular undertaking at the time of the transfer or entry of the charging order that gave rise to the transfer; or\n(B) at any time if the partnership was a partnership at will at the time of the transfer or entry of the charging order that gave rise to the transfer.","path":["Title 32. Partnership.","Chapter 06. Uniform Partnership Act.","Article 7. Winding up Partnership Business."],"source_url":"https://www.akleg.gov/basis/statutes.asp#32.06.801","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:18:30Z","sha256":"4dd9283437a4c62fcf3f204b32ae0714c9d9a8173f89c14539b446c5a1dcaff8","source_id":"us-ak","stale":false,"prev":"us-ak/as-32.06.705","next":"us-ak/as-32.06.802"},"notice":"GroundRules: Original legal text. Not legal advice."}