{"data":{"id":"us-nc/n.c.-gen.-stat.-59-62","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 59-62","heading":"Dissolution by decree of court.","body":"(a)\tOn application by or for a partner the court shall decree a dissolution whenever:\n(1)\tA partner has been adjudicated incompetent or is shown to be of unsound mind,\n(2)\tA partner becomes in any other way incapable of performing his part of the partnership contract,\n(3)\tA partner has been guilty of such conduct as tends to affect prejudicially the carrying on of the business,\n(4)\tA partner wilfully or persistently commits a breach of the partnership agreement, or otherwise so conducts himself in matters relating to the partnership business that it is not reasonably practicable to carry on the business in partnership with him,\n(5)\tThe business of the partnership can only be carried on at a loss,\n(6)\tOther circumstances render a dissolution equitable.\n(b)\tOn the application of the purchaser of a partner's interest under G.S. 59-57 and 59-58:\n(1)\tAfter the termination of the specified term or particular undertaking,\n(2)\tAt any time if the partnership was a partnership at will when the interest was assigned or when the charging order was issued.\n(c)\tThe name of a registered limited liability partnership becomes available for use by another entity as provided in G.S. 55D-21. (1941, c. 374, s. 32; 1985, c. 589, s. 29; 2001-358, s. 41; 2001-387, ss. 173, 175(a); 2001-413, s. 6; 2001-487, s. 107(b).)","path":["Chapter 59. Partnership.","Article 2. Uniform Partnership Act.","Part 6. Dissolution and Winding Up."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_59/GS_59-62.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:07:02Z","sha256":"0b9499a57ebf4df6e47e27e1906146d43ddf51a85397bb8c23367982407cf97f","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-59-61","next":"us-nc/n.c.-gen.-stat.-59-63"},"notice":"GroundRules: Original legal text. Not legal advice."}