The Vermont Statutes Online
Corporations, Partnerships and Associations
WINDING UP PARTNERSHIP BUSINESS
3275. Statement of dissolution
dissolution, a partner who has not wrongfully dissociated may file a statement
of dissolution stating the name of the partnership and that the partnership has
dissolved and is winding up its business.
(b) A statement
of dissolution cancels a filed statement of partnership authority for the
purposes of subsection 3223(d) of this title, and is a limitation on authority
for the purposes of subsection 3223(e) of this title.
(c) For the
purposes of sections 3221 and 3274 of this title, a person not a partner is
deemed to have notice of the dissolution and the limitation on the partners'
authority as a result of the statement of dissolution 90 days after it is
(d) After filing
and, if appropriate, recording a statement of dissolution, a dissolved
partnership may file and, if appropriate, record a statement of partnership
authority which will operate with respect to a person not a partner as provided
in subsections 3223(d) and (e) of this title in any transaction, whether or not
the transaction is appropriate for winding up the partnership business. (Added
1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)