2000 Minnesota Statutes

     323.41 Rights of retiring or estate of deceased partner 
  when the business is continued.  

    When a partner retires or dies, and the business is 
 continued under any of the conditions set forth in section 
 323.40, subdivisions 1, 2, 3, 5, and 6, or 323.37, subdivision 
 2, clause (2), without any settlement of accounts as between the 
 partner or that partner's estate and the person or partnership 
 continuing the business, unless otherwise agreed, the partner or 
 the partner's legal representative as against such persons or 
 partnership, may have the value of the partner's interest at the 
 date of dissolution ascertained, and shall receive as an 
 ordinary creditor an amount equal to the value of that interest 
 in the dissolved partnership, with interest, or, the option, in 
 lieu of interest, of the profits attributable to the use of the 
 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 section 323.40, 
 subdivision 8.  

    HIST: (7425) 1921 c 487 s 42; 1986 c 444 

*   NOTE:  This section is repealed by Laws 1997, chapter 174, 
*article 12, section 68, as amended by Laws 1998, chapter 262, 
*section 12, effective January 1, 2002.