Partners may, upon or in anticipation of a dissolution of the partnership, agree that none of them will carry on a similar business within the same municipality where the partnership business has been transacted or within a specified part thereof.

Source: CivC 1877, § 961; CL 1887, § 3585; RCivC 1903, § 1279; RC 1919, § 900; SL 1929, ch 88 ; SDC 1939, § 10.0706 (2).