NC General Statutes

N.C. Gen. Stat. § 59-72 (2026)

Rights of retiring partner or estate of deceased partner when the business is continued

✓ current as of July 2026

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When any partner retires or dies, and the business is continued under any of the conditions set forth in G.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 his estate and the person or partnership continuing the business, unless otherwise agreed, he or his legal representative as against such persons or partnership may have the value of his interest at the date of dissolution ascertained, and shall receive as an ordinary creditor an amount equal to the value of his interest in the dissolved partnership with interest, or, at his option or at the option of his legal representative, in lieu of interest, the profits attributable to the use of his right in the property of the dissolved partnership; provided that the creditors of the dissolved partnership as against the separate creditors, or the representative of the retired or deceased partner, shall have priority on any claim arising under this section, as provided by G.S. 59-71, subsection (h). (1941, c. 374, s. 42.)

§ 59-73. Accrual of actions.

The right to an account of his interest shall accrue to any partner, or his legal representative, as against the winding up partners or the surviving partners or the person or partnership continuing the business, at the date of dissolution, in the absence of any agreement to the contrary. (1941, c. 374, s. 43.)

Article 2A.

Conversion and Merger.

Part 1. General Provisions.

Notes of Decisions

Cited in 2 cases, 2001–2003 · leading case: Lewis v. Edwards, 554 S.E.2d 17 (N.C. Ct. App. 2001).

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Lewis v. Edwards, 554 S.E.2d 17 (N.C. Ct. App. 2001). · cites it 7× “N.C.G.S. § 59-72 (1999). The partnership business is continued under section 59-71 (c) if the partnership is dissolved and the business is continued without liquidation of the partnership affairs.”

Lewis v. Edwards, 583 S.E.2d 387 (N.C. Ct. App. 2003). · cites it 2× “Plaintiff, on the other hand, maintains that Lewis I affirmed the trial court’s method of computing interest based on N.C. Gen. Stat. § 59-72 (2001) and that this is now the law of the case.”

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