NC General Statutes
N.C. Gen. Stat. § 59-63 (2026)
General effect of dissolution on authority of partner
✓ current as of July 2026
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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.)
Notes of Decisions
Cited in 2
cases (1 in the last 5 years), 1982–2023 · leading case: Simmons v. Quick-Stop Food Mart, Inc., 296 S.E.2d 275 (N.C. 1982).
Simmons v. Quick-Stop Food Mart, Inc., 296 S.E.2d 275 (N.C. 1982). “See N.C. Gen. Stat. § 59-63 (2) (1975). The sale of partnership assets upon dissolution is an act appropriate for winding up partnership affairs.”
O'Neal v. Burley (N.C. Ct. App. 2023). “” N.C. Gen. Stat. § 59-63 (2021). On the date of dissolution, the right to an account of a partnership interest accrues, unless there exists an agreement to the contrary.”
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