yourstate.us
Nev. Rev. Stat. § 87.420

Rights of retiring or estate of deceased partner when business of partnership is continued

Nevada · Nevada Revised Statutes Chapter 87 — Partnerships · Status: effective

Get this as JSONEmbed this
Cite this
Citation
Nev. Rev. Stat. § 87.420, Rights of retiring or estate of deceased partner when business of partnership is continued, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2077557
Permanent ID
ys:prov:2077557@1
SHA-256
4d4313c27961d59b9d716add5e3cd2a5085395bd8ca6bafd8c130017ef4a2bde

The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.

Full text

When any partner retires or dies, and the business is continued under any of the conditions set forth in subsections 1, 2, 3, 5 and 6 of NRS 87.410, or paragraph (b) of subsection 2 of NRS 87.380, without any settlement of accounts as between the retired or deceased partner or his or her estate and the person or partnership continuing the business, unless otherwise agreed, the retired or deceased partner or his or her legal representative as against such persons or partnership may have the value of the retired or deceased partner’s interest at the date of dissolution ascertained, and shall receive as an ordinary creditor an amount equal to the value of the retired or deceased partner’s interest in the dissolved partnership with interest, or, at the retired or deceased partner’s option or at the option of his or her legal representative, in lieu of interest, the profits attributable to the use of the retired or deceased partner’s right in the property of the dissolved partnership; provided that the creditors of the dissolved partnership as against the separate creditors, or the representative of the retired or deceased partner, shall have priority on any claim arising under this section as provided by subsection 8 of NRS 87.410.