§ 59-72. Rights of retiring partner or estate of deceased partner when the business is continued. - North Carolina Statutes

§59‑72.  Rights of retiring partner or estate of deceased partner when thebusiness is continued.

When any partner retires ordies, and the business is continued under any of the conditions set forth inG.S. 59‑71, subsections (a), (b), (c), (e), (f), or G.S. 59‑68,subdivision (b)(2), without any settlement of accounts as between him or hisestate and the person or partnership continuing the business, unless otherwiseagreed, he or his legal representative as against such persons or partnershipmay have the value of his interest at the date of dissolution ascertained, andshall receive as an ordinary creditor an amount equal to the value of hisinterest in the dissolved partnership with interest, or, at his option or atthe option of his legal representative, in lieu of interest, the profitsattributable to the use of his right in the property of the dissolvedpartnership; provided that the creditors of the dissolved partnership asagainst the separate creditors, or the representative of the retired or deceasedpartner, shall have priority on any claim arising under this section, asprovided by G.S. 59‑71, subsection (h). (1941, c. 374, s. 42.)