The Florida Senate

¹620.765  Rights of retiring partner 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 s. 620.745(2)(b) or s. 620.76(1), (2), (3), (5), or (6), without any settlement of accounts between the partner or his or her estate and the person or partnership continuing the business, unless otherwise agreed, the partner or his or her legal representative, as against the persons or partnership, may have the value of his or her interest at the date of dissolution ascertained, and shall receive as an ordinary creditor an amount equal to the value of his or her interest in the dissolved partnership with interest or, at his or her option or that of his or her legal representative, instead of interest, the profits attributable to the use of his or her right in the property of the dissolved partnership; but 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 s. 620.76(8).

History.--s. 42, ch. 72-108; s. 25, ch. 95-242; s. 166, ch. 97-102.

¹Note.--Repealed effective January 1, 1998, by s. 25, ch. 95-242.