State Codes and Statutes

Statutes > Virginia > Title-50 > Chapter-2-2 > 50-73-103

§ 50-73.103. Actions by partnership and partners.

A. A partnership may maintain an action against a partner for a breach of thepartnership 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 anotherpartner for legal or equitable relief, with or without an accounting as topartnership business, to:

1. Enforce that partner's rights under the partnership agreement;

2. Enforce that partner's rights under this chapter, including:

a. That partner's rights under §§ 50-73.99, 50-73.101, or § 50-73.102;

b. That partner's right on dissociation to have the partner's interest in thepartnership purchased pursuant to § 50-73.112 or enforce any other rightunder Article 6 or Article 7; or

c. That partner's right to compel a dissolution and winding up of thepartnership business under § 50-73.117 or enforce any other right underArticle 8; or

3. Enforce the rights and otherwise protect the interests of that partner,including rights and interests arising independently of the partnershiprelationship.

C. The accrual of, and any time limitation on, a right of action for a remedyunder this section is governed by other law. A right to an accounting upon adissolution and winding up does not revive a claim barred by law.

(1996, c. 292.)

State Codes and Statutes

Statutes > Virginia > Title-50 > Chapter-2-2 > 50-73-103

§ 50-73.103. Actions by partnership and partners.

A. A partnership may maintain an action against a partner for a breach of thepartnership 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 anotherpartner for legal or equitable relief, with or without an accounting as topartnership business, to:

1. Enforce that partner's rights under the partnership agreement;

2. Enforce that partner's rights under this chapter, including:

a. That partner's rights under §§ 50-73.99, 50-73.101, or § 50-73.102;

b. That partner's right on dissociation to have the partner's interest in thepartnership purchased pursuant to § 50-73.112 or enforce any other rightunder Article 6 or Article 7; or

c. That partner's right to compel a dissolution and winding up of thepartnership business under § 50-73.117 or enforce any other right underArticle 8; or

3. Enforce the rights and otherwise protect the interests of that partner,including rights and interests arising independently of the partnershiprelationship.

C. The accrual of, and any time limitation on, a right of action for a remedyunder this section is governed by other law. A right to an accounting upon adissolution and winding up does not revive a claim barred by law.

(1996, c. 292.)


State Codes and Statutes

State Codes and Statutes

Statutes > Virginia > Title-50 > Chapter-2-2 > 50-73-103

§ 50-73.103. Actions by partnership and partners.

A. A partnership may maintain an action against a partner for a breach of thepartnership 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 anotherpartner for legal or equitable relief, with or without an accounting as topartnership business, to:

1. Enforce that partner's rights under the partnership agreement;

2. Enforce that partner's rights under this chapter, including:

a. That partner's rights under §§ 50-73.99, 50-73.101, or § 50-73.102;

b. That partner's right on dissociation to have the partner's interest in thepartnership purchased pursuant to § 50-73.112 or enforce any other rightunder Article 6 or Article 7; or

c. That partner's right to compel a dissolution and winding up of thepartnership business under § 50-73.117 or enforce any other right underArticle 8; or

3. Enforce the rights and otherwise protect the interests of that partner,including rights and interests arising independently of the partnershiprelationship.

C. The accrual of, and any time limitation on, a right of action for a remedyunder this section is governed by other law. A right to an accounting upon adissolution and winding up does not revive a claim barred by law.

(1996, c. 292.)