North Carolina General Statutes 59-75. Effect of failure to give bond
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Terms Used In North Carolina General Statutes 59-75
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Upon the failure of the surviving partner to execute the bond provided for in N.C. Gen. Stat. § 59-74, the clerk of the superior court shall, upon application of any person interested in the estate of the deceased partner, appoint a collector of the partnership, who shall be governed by the same law governing an administrator of a deceased person. (1915, c. 227, s. 4; C.S., s. 3278.)