Maryland Statutes
Subtitle 8 - Winding Up Partnership Business
Section 9A-801 - Events Causing Dissolution and Winding Up of Partnership Business

A partnership is dissolved, and its business must be wound up, only upon the occurrence of any of the following events:
        (1)    In a partnership at will, the partnership’s having notice from a partner, other than a partner who is dissociated under § 9A-601(2) through (10) of this title, of that partner’s express will to withdraw as a partner, or on a later date specified by the partner;
        (2)    In a partnership for a definite term or particular undertaking:
            (i)    The expiration of 90 days after a partner’s dissociation by death or otherwise under § 9A-601(6) through (10) of this title or wrongful dissociation under § 9A-602(b) of this title, unless before that time a majority in interest of the remaining partners, including partners who have rightfully dissociated pursuant to § 9A-602(b)(2)(i) of this title, agree to continue the partnership;
            (ii)    The express will of all of the partners to wind up the partnership business; or
            (iii)    The expiration of the term or the completion of the undertaking;
        (3)    An event agreed to in the partnership agreement resulting in the winding up of the partnership business;
        (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;
        (5)    On application by a partner, a judicial determination that:
            (i)    The economic purpose of the partnership is likely to be unreasonably frustrated;
            (ii)    Another partner has engaged in conduct relating to the partnership business which makes it not reasonably practicable to carry on the business in partnership with that partner; or
            (iii)    It is not otherwise reasonably practicable to carry on the partnership business in conformity with the partnership agreement; or
        (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:
            (i)    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
            (ii)    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.

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