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Ark. Code Ann. § 4-46-405

Actions by partnership and partners

Known as the Uniform Partnership Act

The act spans §§ 4–4 (71 sections).

Acts 1999, No. 1518, § 405.

(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 partnership business, to: enforce the partner's rights under the partnership agreement;

(3) enforce the partner's rights under this chapter, including: the partner's rights under §§ 4-46-401, 4-46-403, or 4-46-404;

(4) the partner's right on dissociation to have the partner's interest in the partnership purchased pursuant to § 4-46-701 or enforce any other right under § 4-46-601 et seq. or § 4-46-701 et seq.; or

(5) the partner's right to compel a dissolution and winding up of the partnership business under § 4-46-801 or enforce any other right under § 4-46-801 et seq.; or

(6) enforce the rights and otherwise protect the interests of the partner, including rights and interests arising independently of the partnership relationship.

(7) 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.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.