§ 59-58. Partner's interest subject to charging order. - North Carolina Statutes

§59‑58.  Partner's interest subject to charging order.

(a)        On due applicationto a competent court by any judgment creditor of a partner, the court whichentered the judgment, order or decree, or any other court, may charge theinterest of the debtor partner with payment of the unsatisfied amount of suchjudgment debt with interest thereon; and may then or later appoint a receiverof his share of the profits, and of any other money due or to fall due to himin respect of the partnership, and make all other orders, directions, accountsand inquiries which the debtor partner might have made, or which thecircumstances of the case may require.

(b)        The interestcharged may be redeemed at any time before foreclosure, or in case of a salebeing directed by the court may be purchased without thereby causing adissolution:

(1)        With separateproperty, by any one or more of the partners, or

(2)        With partnershipproperty, by any one or more of the partners with the consent of all thepartners whose interests are not so charged or sold.

(c)        Nothing in this Actshall be held to deprive a partner of his right, if any, under the exemptionlaws, as regards his interest in the partnership. (1941, c. 374, s. 28; 2000‑140,s. 101(n).)