N.C. Gen. Stat. § 59-47

Liability of incoming partner.

Last amended: 1941Year: 2026Length: 53 wordsOfficial source
§ 59-47. Liability of incoming partner. 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.
N.C. Gen. Stat. § 59-47: Liability of incoming partner. | Justis AI