{"data":{"id":"us-ky/krs-362.1-803","jurisdiction":"us-ky","citation":"KRS 362.1-803","heading":"Right to wind up partnership business.","body":"(1) After dissolution, a partner who has not wrongfully dissociated may participate in\nwinding up the partnership's business, but on application of any partner, partner's\nlegal representative, or transferee, the Circuit Court for the county in which the\nregistered office is located or, if none, the Franklin Circuit Court, for good cause\nshown, may order judicial supervision of the winding up.\n(2) The legal representative of the last surviving partner may wind up a partnership's\nbusiness.\n(3) A person winding up a partnership's business may preserve the partnership business\nor property as a going concern for a reasonable time, prosecute and defend actions\nand proceedings, whether civil, criminal, or administrative, settle and close the\npartnership's business, dis pose of and transfer the partnership's property, discharge\nthe partnership's liabilities, distribute the assets of the partnership pursuant to KRS\n362.1-807, settle disputes by mediation or arbitration, and perform other necessary\nacts.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=34505","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:57Z","sha256":"cc58a96eb4f89327cd191d3e9b9d42afa9948eab3efed8756fe71104458e87b7","source_id":"us-ky","stale":false,"prev":"us-ky/krs-362.1-802","next":"us-ky/krs-362.1-804"},"notice":"GroundRules: Original legal text. Not legal advice."}