Public-domain · open source
OpenJurist

Tenn. Code Ann. § 61-1-405

Actions by partnership and partners

Known as the Uniform Partnership Act

The act spans §§ 61-1-1001 to 61-1-908 (67 sections).

Acts 2001, ch. 353.

(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 §§ 61-1-401, 61-1-403, or 61-1-404;

(4) The partner's right on dissociation to have the partner's interest in the partnership purchased pursuant to § 61-1-701 or enforce any other right under parts 6 or 7 of this chapter; or

(5) The partner's right to compel a dissolution and winding up of the partnership business under § 61-1-801 or enforce any other right under part 8 of this chapter; 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: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.