Uniform Partnership Act
Minnesota · Uniform Partnership Act of 1994 · §§ 323A.0101 to 323A.1203 · 68 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 8 court decisions.
Most-cited authority: 702 N.W.2d 786 - Fleming v. Hagen Estate
Sections covered
- Minn. Stat. § 323A.0101DEFINITIONS.1 cite
- Minn. Stat. § 323A.0102KNOWLEDGE AND NOTICE.1 cite
- Minn. Stat. § 323A.0103EFFECT OF PARTNERSHIP AGREEMENT; NONWAIVABLE PROVISIONS.
- Minn. Stat. § 323A.0104SUPPLEMENTAL PRINCIPLES OF LAW.
- Minn. Stat. § 323A.0105EXECUTION, FILING, AND RECORDING OF STATEMENTS.
- Minn. Stat. § 323A.0106GOVERNING LAW.
- Minn. Stat. § 323A.0107PARTNERSHIP SUBJECT TO AMENDMENT OR REPEAL OF CHAPTER.
- Minn. Stat. § 323A.0201PARTNERSHIP AS ENTITY.
- Minn. Stat. § 323A.0202FORMATION OF PARTNERSHIP.1 cite
- Minn. Stat. § 323A.0203PARTNERSHIP PROPERTY.
- Minn. Stat. § 323A.0204WHEN PROPERTY IS PARTNERSHIP PROPERTY.
- Minn. Stat. § 323A.0301PARTNER AGENT OF PARTNERSHIP.
- Minn. Stat. § 323A.0302TRANSFER OF PARTNERSHIP PROPERTY.
- Minn. Stat. § 323A.0303STATEMENT OF PARTNERSHIP AUTHORITY.
- Minn. Stat. § 323A.0304STATEMENT OF DENIAL.
- Minn. Stat. § 323A.0305PARTNERSHIP LIABLE FOR PARTNER'S ACTIONABLE CONDUCT.
- Minn. Stat. § 323A.0306PARTNER'S LIABILITY.
- Minn. Stat. § 323A.0307ACTIONS BY AND AGAINST PARTNERSHIP AND PARTNERS.1 cite
- Minn. Stat. § 323A.0308LIABILITY OF PURPORTED PARTNER.
- Minn. Stat. § 323A.0401PARTNER'S RIGHTS AND DUTIES.1 cite
- Minn. Stat. § 323A.0402DISTRIBUTIONS IN KIND.
- Minn. Stat. § 323A.0403PARTNER'S RIGHTS AND DUTIES WITH RESPECT TO INFORMATION.
- Minn. Stat. § 323A.0404GENERAL STANDARDS OF PARTNER'S CONDUCT.
- Minn. Stat. § 323A.0405ACTIONS BY PARTNERSHIP AND PARTNERS.
- Minn. Stat. § 323A.0406CONTINUATION OF PARTNERSHIP BEYOND DEFINITE TERM OR PARTICULAR UNDERTAKING.
- Minn. Stat. § 323A.0501PARTNER NOT CO-OWNER OF PARTNERSHIP PROPERTY.
- Minn. Stat. § 323A.0502PARTNER'S TRANSFERABLE INTEREST IN PARTNERSHIP.
- Minn. Stat. § 323A.0503TRANSFER OF PARTNER'S TRANSFERABLE INTEREST.
- Minn. Stat. § 323A.0504PARTNER'S TRANSFERABLE INTEREST SUBJECT TO CHARGING ORDER.
- Minn. Stat. § 323A.0601EVENTS CAUSING PARTNER'S DISSOCIATION.
- Minn. Stat. § 323A.0602PARTNER'S POWER TO DISSOCIATE; WRONGFUL DISSOCIATION.
- Minn. Stat. § 323A.0603EFFECT OF PARTNER'S DISSOCIATION.
- Minn. Stat. § 323A.0701PURCHASE OF DISSOCIATED PARTNER'S INTEREST.1 cite
- Minn. Stat. § 323A.0702DISSOCIATED PARTNER'S POWER TO BIND AND LIABILITY TO PARTNERSHIP.
- Minn. Stat. § 323A.0703DISSOCIATED PARTNER'S LIABILITY TO OTHER PERSONS.
- Minn. Stat. § 323A.0704STATEMENT OF DISSOCIATION.
- Minn. Stat. § 323A.0705CONTINUED USE OF PARTNERSHIP NAME.
- Minn. Stat. § 323A.0801EVENTS CAUSING DISSOLUTION AND WINDING UP OF PARTNERSHIP BUSINESS.1 cite
- Minn. Stat. § 323A.0802PARTNERSHIP CONTINUES AFTER DISSOLUTION.
- Minn. Stat. § 323A.0803RIGHT TO WIND UP PARTNERSHIP BUSINESS.
- Minn. Stat. § 323A.0804PARTNER'S POWER TO BIND PARTNERSHIP AFTER DISSOLUTION.
- Minn. Stat. § 323A.0805STATEMENT OF DISSOLUTION.
- Minn. Stat. § 323A.0806PARTNER'S LIABILITY TO OTHER PARTNERS AFTER DISSOLUTION.
- Minn. Stat. § 323A.0807SETTLEMENT OF ACCOUNTS AND CONTRIBUTIONS AMONG PARTNERS.
- Minn. Stat. § 323A.0901DEFINITIONS.
- Minn. Stat. § 323A.0902CONVERSIONS.
- Minn. Stat. § 323A.0903FILINGS REQUIRED FOR CONVERSION; EFFECTIVE DATE AND TIME.
- Minn. Stat. § 323A.0904EFFECT OF CONVERSION.
- Minn. Stat. § 323A.0905MERGER OF PARTNERSHIPS.
- Minn. Stat. § 323A.0906EFFECT OF MERGER.
- Minn. Stat. § 323A.0907STATEMENT OF MERGER.
- Minn. Stat. § 323A.0910DOMESTICATION.
- Minn. Stat. § 323A.0911ACTION ON PLAN OF DOMESTICATION BY DOMESTICATING PARTNERSHIP.
- Minn. Stat. § 323A.0912FILINGS REQUIRED FOR DOMESTICATION; EFFECTIVE DATE.
- Minn. Stat. § 323A.0913EFFECT OF DOMESTICATION.
- Minn. Stat. § 323A.0914RESTRICTIONS ON APPROVAL OF MERGERS, EXCHANGES, CONVERSIONS, AND DOMESTICATIONS.
- Minn. Stat. § 323A.1001STATEMENT OF QUALIFICATION.
- Minn. Stat. § 323A.1002NAME.
- Minn. Stat. § 323A.1003ANNUAL RENEWAL.
- Minn. Stat. § 323A.1004REVOCATION FOR FAILURE TO REPLACE A REQUIRED REGISTERED AGENT.
- Minn. Stat. § 323A.1101LAW GOVERNING FOREIGN LIMITED LIABILITY PARTNERSHIP.
- Minn. Stat. § 323A.1102STATEMENT OF FOREIGN QUALIFICATION.
- Minn. Stat. § 323A.1103EFFECT OF FAILURE TO QUALIFY.
- Minn. Stat. § 323A.1104ACTIVITIES NOT CONSTITUTING TRANSACTING BUSINESS.
- Minn. Stat. § 323A.1105ACTION BY ATTORNEY GENERAL.
- Minn. Stat. § 323A.1201SHORT TITLE.
- Minn. Stat. § 323A.1202APPLICABILITY.1 cite
- Minn. Stat. § 323A.1203EFFECT OF DESIGNATION.
Enacted in other states
Alaska, Arkansas, California, Colorado, Connecticut, District of Columbia, Iowa, Idaho, Illinois, Indiana, Kentucky, Montana, North Carolina, New Hampshire, New Jersey, New Mexico, Ohio, Pennsylvania, South Carolina, South Dakota, Tennessee, Utah, Virginia, West Virginia, Wyoming
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