Nev. Rev. Stat. § 87.420

This is the official text of Nev. Rev. Stat. § 87.420, part of Nevada’s Rev. Stat — part of the compiled statutory law of Nevada, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.

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

Official statutory 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 .

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.