{"data":{"id":"us-nc/n.c.-gen.-stat.-59-804","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 59-804","heading":"Distribution of assets.","body":"Upon the winding up of a limited partnership, the assets shall be distributed as follows:\n(1)\tTo creditors, including limited partners who are creditors, to the extent otherwise permitted by law, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under G.S. 59-601 or G.S. 59-604;\n(2)\tTo general partners who are creditors to the extent otherwise permitted by law, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under G.S. 59-601 or G.S. 59-604;\n(3)\tExcept as provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions under G.S. 59-601 or G.S. 59-604; and\n(4)\tExcept as provided in the partnership agreement, to partners first for the return of their contributions and secondly respecting their partnership interests, in the proportions in which the partners share in distributions. (1985 (Reg. Sess., 1986), c. 989, s. 2.)","path":["Chapter 59. Partnership.","Article 5. Revised Uniform Limited Partnership Act.","Part 8. Dissolution."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_59/GS_59-804.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:07:02Z","sha256":"67faea9e4fce58d846e01c1817fcf22de7e404c4c65c1687f483e04e5a863576","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-59-803","next":"us-nc/n.c.-gen.-stat.-59-805-through-59-900"},"notice":"GroundRules: Original legal text. Not legal advice."}