North Carolina § 59-603 - Withdrawal of limited partner.
Full text of North Carolina North Carolina General Statutes § 59-603 — Withdrawal of limited partner., with citation guidance and answers to common questions.
§ 59-603. Withdrawal of limited partner.
A limited partner may withdraw from a limited partnership only at the time or upon the happening of events specified in writing in and in accordance with the partnership agreement, including any amendment or addendum to the partnership agreement agreed upon by the partners unanimously or in accordance with the terms of the agreement and made in connection with any permitted withdrawal. If the partnership agreement does not specify in writing the time or the events upon the happening of which a limited partner may withdraw, a limited partner may not withdraw prior to the time for the dissolution and winding up of the limited partnership. History (1985 (Reg. Sess., 1986), c. 989, s. 2; 1999-362, s. 27.) Editor's Note. - Session Laws 1999-362, s. 27, which rewrote this section, was effective October 1, 1999, and applicable to (i) any limited partnership formed before that date, only if validly adopted in writing by its partners or otherwise as a part of its partnership agreement, and (ii) all limited partnerships formed on or after that date.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 59-603
What does North Carolina General Statutes § 59-603 cover?
Section 59-603 ("Withdrawal of limited partner.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 59-603?
A common citation format is "North Carolina General Statutes § 59-603" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 59-603 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.