Updated February 11, 2022
A North Carolina partnership agreement is a contract that describes a management partnership’s structure. It customarily presents ownership interests, dispute resolution, liabilities, duration, and dissolution. The content needs to be as meticulous as possible for the sake of preventing misunderstandings in the future.
Partnership Types
- General Partnerships (GP) – Chapter 59 (§§ 31-94)
- Limited Partnership (LP) – Chapter 59 (§§ 101-1107)
- Limited Liability Partnership (LLP) – Chapter 59 (§§ 84.2-84.5)
- Limited Liability Limited Partnership (LLLP) – § 59-210
- Limited Liability Companies (LLC) – Chapter 57D (§§ 1-01 through 11-03)