North Carolina General Statutes § 59-63 General effect of dissolution on authority of partner

Except so far as may be necessary to wind up partnership affairs or to complete transactions begun but not then finished, dissolution terminates all authority of any partner to act for the partnership,

(1)        With respect to the partners,

a.         When the dissolution is not by the act, bankruptcy or death of a partner; or

b.         When the dissolution is by such act, bankruptcy or death of a partner, in cases where G.S. 59-64 so requires,

(2)        With respect to persons not partners, as declared in G.S. 59-65. (1941, c. 374, s. 33.)

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Last modified: March 23, 2014