State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_59 > GS_59-604

§59‑604.  Distribution upon withdrawal.

Except as provided in thisArticle, upon withdrawal any withdrawing partner is entitled to receive anydistribution to which the partner is entitled under the partnership agreementand, if not otherwise provided in the agreement, the partner is entitled toreceive, within a reasonable time after withdrawal, the fair value of thepartner's partnership interest in the limited partnership as of the date ofwithdrawal, based upon the partner's right to share in distributions from thelimited partnership. (1985 (Reg. Sess., 1986), c. 989, s. 2; 1999‑362,s. 28.)