§425-124 - Actions by partnership and partners.
§425-124 Actions by partnership and
partners. (a) 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.
(b) A partner may maintain an action against
the partnership or another partner for legal or equitable relief, with or
without an accounting as to partnership business, to:
(1) Enforce the partner's rights under the
partnership agreement;
(2) Enforce the partner's rights under this part,
including:
(A) The partner's rights under section
425-120, 425-122, or 425-123;
(B) The partner's right on dissociation to
have the partner's interest in the partnership purchased pursuant to section
425-133 or enforce any other right under sections 425-130 to 425-132 or
sections 425-133 to 425-137; or
(C) The partner's right to compel a
dissolution and winding up of the partnership business or enforce any other
right under sections 425-138 to 425-144; or
(3) Enforce the rights and otherwise protect the
interests of the partner, including rights and interests arising independently
of the partnership relationship.
(c) 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. [L 1999, c 284, pt of §1]