Effectiveness of Dissolution. Upon the issuance of the certificate of dissolution, the existence of the Partnership shall cease, except for the purpose of suits, other proceedings and appropriate action as provided in the Act. The General Partner shall have authority to distribute any Partnership property discovered after dissolution, convey real estate and take such other action as may be necessary on behalf of and in the name of the Partnership.
Appears in 2 contracts
Sources: Limited Partnership Agreement (Secured Investment Resources Fund Lp Ii), Agreement of Limited Partnership (Secured Investment Resources Fund Lp Ii)