N.C. Gen. Stat. » Chapter 59
NC General Statutes

N.C. Gen. Stat. § 59-803 (2026)

Winding up

✓ current as of July 2026
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Except as provided in the partnership agreement, the general partners who have not wrongfully dissolved a limited partnership or, if none, the limited partners, may wind up the limited partnership's affairs; but the court may wind up the limited partnership's affairs upon application of any partner, his legal representative, or assignee. (1985 (Reg. Sess., 1986), c. 989, s. 2.)

 

Notes of Decisions
Cited in 2 cases, 2007–2018 · leading case: Piedmont Venture Partners, L.P. & Piedmont Venture Partners II, L.P. by & Through William E. Ray, Liquidator v. Deloitte & Touche, L.L.P., 2007 NCBC 6 (N.C. Bus. Ct. 2007).
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Piedmont Venture Partners, L.P. & Piedmont Venture Partners II, L.P. by & Through William E. Ray, Liquidator v. Deloitte & Touche, L.L.P., 2007 NCBC 6 (N.C. Bus. Ct. 2007). · cites it 9× “]” N.C.G.S. § 59-803 (2006). {39} Thus, under the Partnership Agreements and applicable state law, the General Partners were removed from office when they filed for bankruptcy on 27 May 2005, and because no substitute general partner was appointed for either of the Funds and the…”
Carter v. Lail, 2018 NCBC 47 (N.C. Bus. Ct. 2018). · cites it 6× “Nevertheless, G.S. § 59-803 provides: Except as provided in the partnership agreement, the general partners who have not wrongfully dissolved a limited partnership or, if none, the limited partners, may wind up the limited partnership's affairs; but the court may wind up the…”
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