Uniform Partnership Act

Indiana · Repealed · §§ 23-4-1-1 to 23-4-1-9 · 62 sections

Overview

The act governs the formation, internal operation, and eventual dissolution of general partnerships, treating the partnership as an entity that can own and transfer property, sue and be sued, and act through its partners as agents. It supplies default rules for the relationship among partners — fiduciary duties, access to books and records, distributions, and what a partner owns and may transfer — while setting the terms on which the partnership and its individual partners become liable to outsiders, including creditors who reach a partner's transferable interest by court order. It also establishes filing mechanisms through which authority, its denial, a partner's departure, and dissolution can be made a matter of public record, and it defines when a partner's dissociation triggers a buyout rather than the end of the business, along with the process for winding up and settling accounts when the partnership does terminate.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

In the courts

Sections of this act have been cited in 28 court decisions.

Most-cited authority: 670 N.E.2d 1280 - Rice v. Strunk

Sections covered

Ind. Code § 23-4-1-1Short title6 cites
Ind. Code § 23-4-1-10Conveyance of real property of partnership
Ind. Code § 23-4-1-11Partnership bound by admission of partner
Ind. Code § 23-4-1-12Partnership charged with knowledge of or notice to partner
Ind. Code § 23-4-1-13Partnership bound by partner's wrongful act5 cites
Ind. Code § 23-4-1-14Partnership bound by partner's breach of trust2 cites
Ind. Code § 23-4-1-15Nature of partner liability; partnerships; limited liability partnerships4 cites
Ind. Code § 23-4-1-16Partner by estoppel
Ind. Code § 23-4-1-17Liability of incoming partner
Ind. Code § 23-4-1-18Rules determining rights and duties of partners1 cite
Ind. Code § 23-4-1-19Partnership books
Ind. Code § 23-4-1-2Definitions
Ind. Code § 23-4-1-20Duty of partners to render information
Ind. Code § 23-4-1-21Partner accountable as fiduciary
Ind. Code § 23-4-1-22Right to account
Ind. Code § 23-4-1-23Continuation of partnership beyond fixed term
Ind. Code § 23-4-1-24Extent of property rights of partner1 cite
Ind. Code § 23-4-1-25Nature of partner's right in specific partnership property
Ind. Code § 23-4-1-26Nature of partner's interest in partnership
Ind. Code § 23-4-1-27Assignment of partner's interest
Ind. Code § 23-4-1-28Partner's interest subject to charging order
Ind. Code § 23-4-1-29Dissolution defined
Ind. Code § 23-4-1-3Interpretation of knowledge and notice1 cite
Ind. Code § 23-4-1-30Partnership not terminated by dissolution
Ind. Code § 23-4-1-31Causes of dissolution1 cite
Ind. Code § 23-4-1-32Dissolution by decree of court
Ind. Code § 23-4-1-33General effect of dissolution on authority of partner
Ind. Code § 23-4-1-34Right of partner to contribution from copartners after dissolution
Ind. Code § 23-4-1-35Power of partner to bind partnership to third person after dissolution
Ind. Code § 23-4-1-36Effect of dissolution on partner's existing liability
Ind. Code § 23-4-1-37Right to wind up
Ind. Code § 23-4-1-38Rights of partners to application of partnership property
Ind. Code § 23-4-1-39Rights where partnership is dissolved for fraud or misrepresentation
Ind. Code § 23-4-1-4Rules of construction
Ind. Code § 23-4-1-40Rules for distribution
Ind. Code § 23-4-1-41Liability of persons continuing business in certain cases
Ind. Code § 23-4-1-42Rights of retiring or estate of deceased partner when business is continued1 cite
Ind. Code § 23-4-1-43Accrual of actions
Ind. Code § 23-4-1-44Limited liability partnerships; legislative intent and policy
Ind. Code § 23-4-1-45Limited liability partnerships; registration; notice
Ind. Code § 23-4-1-45.1Limited liability partnerships; amendment of registration
Ind. Code § 23-4-1-45.2Limited liability partnerships; withdrawal of registration; filing fee
Ind. Code § 23-4-1-45.3Repealed
Ind. Code § 23-4-1-45.4Repealed
Ind. Code § 23-4-1-45.5Repealed
Ind. Code § 23-4-1-45.6Repealed
Ind. Code § 23-4-1-45.7Repealed
Ind. Code § 23-4-1-46Limited liability partnerships; continuation of partnership and successor partnership registration
Ind. Code § 23-4-1-47Repealed
Ind. Code § 23-4-1-48Repealed
Ind. Code § 23-4-1-49Repealed
Ind. Code § 23-4-1-5Rules for cases not provided for in chapter
Ind. Code § 23-4-1-50Repealed
Ind. Code § 23-4-1-51Repealed
Ind. Code § 23-4-1-52Repealed
Ind. Code § 23-4-1-53Repealed
Ind. Code § 23-4-1-54Repealed
Ind. Code § 23-4-1-59Repealed
Ind. Code § 23-4-1-6Partnership defined4 cites
Ind. Code § 23-4-1-7Rules for determining existence of partnership1 cite
Ind. Code § 23-4-1-8Partnership property
Ind. Code § 23-4-1-9Partner as agent1 cite

Enacted in other states

Alaska, Arkansas, California, Colorado, Connecticut, District of Columbia, Iowa, Idaho, Illinois, Kentucky, Minnesota, Montana, North Carolina, New Hampshire, New Jersey, New Mexico, Ohio, Pennsylvania, South Carolina, South Dakota, Tennessee, Utah, Virginia, West Virginia, Wyoming

All Indiana named statutes →

Download

Copy

Embed on your site

Hover to preview · click to copy the code

Search Wikipedia →