{"data":{"id":"us-ok/okla.-stat.-tit.-54-54-1-801","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 54, § 54-1-801","heading":"Events Causing Dissolution and Winding Up of Partnership","body":"Business.\n\nEvents Causing Dissolution and Winding Up of Partnership\n\nBusiness. A partnership is dissolved, and its business must be\n\nwound up, only upon the occurrence of any of the following events:\n\n(1) in a partnership at will, the partnership's having notice\n\nfrom a partner, other than a partner who is dissociated under\n\nparagraphs (2) through (10) of Section 32 of this act, of that\n\npartner's express will to withdraw as a partner, or on a later date\n\nspecified by the partner;\n\n(2) in a partnership for a definite term or particular\n\nundertaking:\n\n(i) within ninety (90) days after a partner's dissociation\n\nby death or otherwise under paragraphs (6) through\n\n(10) of Section 32 of this act or wrongful\n\ndissociation under subsection (b) of Section 33 of\n\nthis act, the express will of at least half of the\n\nremaining partners to wind up the partnership business\n\nfor which purpose a partner's rightful dissociation\n\npursuant to subparagraph (i) of paragraph (2) of\n\nsubsection (b) of Section 33 of this act constitutes\n\nthe expression of that partner's will to wind up the\n\npartnership business;\n\n(ii) the express will of all of the partners to wind up the\n\npartnership business; or\n\n(iii) the expiration of the term or the completion of the\n\nundertaking;\n\n(3) an event agreed to in the partnership agreement resulting\n\nin the winding up of the partnership business;\n\n(4) an event that makes it unlawful for all or substantially\n\nall of the business of the partnership to be continued, but a cure\n\nof illegality within ninety (90) days after notice to the\n\npartnership of the event is effective retroactively to the date of\n\nthe event for purposes of this section;\n\n(5) on application by a partner, a judicial determination that:\n\n(i) the economic purpose of the partnership is likely to\n\nbe unreasonably frustrated;\n\n(ii) another partner has engaged in conduct relating to the\n\npartnership business which makes it not reasonably\n\npracticable to carry on the business in partnership\n\nwith that partner; or\n\n(iii) it is not otherwise reasonably practicable to carry on\n\nthe partnership business in conformity with the\n\npartnership agreement; or\n\n(6) on application by a transferee of a partner's transferable\n\ninterest, a judicial determination that it is equitable to wind up\n\nthe partnership business:\n\n(i) after the expiration of the term or completion of the\n\nundertaking, if the partnership was for a definite\n\nterm or particular undertaking at the time of the\n\ntransfer or entry of the charging order that gave rise\n\nto the transfer; or\n\n(ii) at any time, if the partnership was a partnership at\n\nwill at the time of the transfer or entry of the\n\ncharging order that gave rise to the transfer.","path":["OK Code","Title 54"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os54.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"9a21d4dc9394dff9a1d9831cc4f7ed9a3bbb9274e3fbaea5351970188f75b039","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-54-54-1-705","next":"us-ok/okla.-stat.-tit.-54-54-1-802"},"notice":"GroundRules: Original legal text. Not legal advice."}