§ 59-36. Partnership defined. - North Carolina Statutes

Part 2.Nature of a Partnership.

§ 59‑36.  Partnershipdefined.

(a)        A partnership is anassociation of two or more persons to carry on as co‑owners a businessfor profit.

(b)        But any associationformed under any other statute of this State, or any statute adopted byauthority, other than the authority of this State, is not a partnership underthis Article, unless such association would have been a partnership in thisState prior to the adoption of this Article; but this Article shall apply tolimited partnerships except insofar as the statutes relating to suchpartnerships are inconsistent herewith. (1941, c. 374, s. 6.)