N.C. Gen. Stat. § 59-47
Liability of incoming partner
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that this liability shall be satisfied only out of partnership property.
A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that this liability shall be satisfied only out of partnership property.
History
(1941, c. 374, s. 17.)
PART 4. RELATIONS OF PARTNERS TO ONE ANOTHER.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.