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Terms Used In North Carolina General Statutes 90-157.3

  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

(a) Each partner in a partnership that is engaged in the practice of chiropractic shall be licensed under this Article.

(b) Each general partner in a limited partnership that is engaged in the practice of chiropractic and each limited partner who takes part in the control of the practice shall be licensed under this Article.

(c) The provisions of Chapter 55B of the N.C. Gen. Stat. shall apply to all business corporations organized under Chapter 55 of the N.C. Gen. Stat. and engaged in the practice of chiropractic. (1999-430, s. 2.)