{"data":{"id":"us-or/ors-67.290","jurisdiction":"us-or","citation":"ORS 67.290","heading":"Events causing dissolution and winding up of partnership business.","body":"A partnership is dissolved, and its business must be wound up, only upon the occurrence of any of the following events:\n      (1) In a partnership at will, the express will of a majority of the partners, excluding any dissociated partner;\n      (2) In a partnership for a definite term or particular undertaking:\n      (a) The express will of all the partners, excluding any dissociated partner, to wind up the partnership business; or\n      (b) 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;\n      (c) It is not otherwise reasonably practicable to carry on the partnership business in conformity with the partnership agreement; or\n      (d) Other circumstances render a dissolution of the partnership and a winding up of its business equitable;\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; or\n      (7) There are no longer two or more partners carrying on as co-owners the business of the partnership for profit.","path":["02 - Business Organizations, Commercial Code","7. Corporations and Partnerships","Chapter 67 — Partnerships; Limited Liability Partnerships"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors067.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:10Z","sha256":"836cb34b36162be767b71a9dad7f1f654811d37365cb7a9f44ee383e82ccf284","source_id":"us-or","stale":false,"prev":"us-or/ors-67.265","next":"us-or/ors-67.295"},"notice":"GroundRules: Original legal text. Not legal advice."}