Section 10-8-103

(Repealed effective January 1, 2001) Rights of retiring partners or estate of deceased partners.

When any partner retires or dies, and the business is continued under any of the conditions set forth in subsections (a), (b), (c), (e) and (f) of Section 10-8-102, or subdivision (b) (2) of Section 10-8-97, without any settlement of accounts as between him or his estate and the person or partnership continuing the business, unless otherwise agreed, he or his legal representative, as against such persons or partnership, may have the value of his interest at the date of dissolution ascertained and shall receive as an ordinary creditor an amount equal to the value of his interest in the dissolved partnership with interest or, at his option or at the option of his legal representative, in lieu of interest, the profits attributable to the use of his 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 of any claim arising under this section, as provided by subsection (h) of Section 10-8-102.

(Acts 1971, No. 1513, p. 2609, §42.)