Current through the 2024 Fourth Special Session
Section 48-1d-406 - Actions by partnership and partners(1) A partnership may maintain an action against a partner for a breach of the partnership agreement, or for the violation of a duty to the partnership, causing harm to the partnership.(2) A partner may maintain an action against the partnership or another partner for legal or equitable relief, with or without an accounting as to the partnership's activities and affairs, to: (a) enforce the partner's rights under the partnership agreement;(b) enforce the partner's rights under this chapter; or(c) enforce the rights and otherwise protect the interests of the partner, including rights and interests arising independently of the partnership relationship.(3) The accrual of, and any time limitation on, a right of action for a remedy under this section is governed by other law. A right to an accounting upon a dissolution and winding up does not revive a claim barred by law.Added by Chapter 412, 2013 General Session ,§ 48, eff. 1/1/2014.