Uniform Partnership Act

Montana · Corporations, Partnerships, and Associations · §§ 35-10-101 to 35-10-724 · 101 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 1 court decision.

Most-cited authority: 150 B.R. 246 - In Re Alderman

Sections covered

Mont. Code Ann. § 35-10-101Short title
Mont. Code Ann. § 35-10-102Definitions
Mont. Code Ann. § 35-10-103Knowledge and notice
Mont. Code Ann. § 35-10-104Uniformity of application and construction
Mont. Code Ann. § 35-10-105Supplemental principles of law
Mont. Code Ann. § 35-10-106Effect of partnership agreement -- nonwaivable provisions
Mont. Code Ann. § 35-10-107through 35-10-110 reserved
Mont. Code Ann. § 35-10-111Execution, filing, and recording of statements
Mont. Code Ann. § 35-10-112Facsimile filing -- requirements -- liability
Mont. Code Ann. § 35-10-113Filing with secretary of state
Mont. Code Ann. § 35-10-114and 35-10-115 reserved
Mont. Code Ann. § 35-10-116Law governing internal affairs
Mont. Code Ann. § 35-10-117Partnership subject to amendment of repeal of chapter
Mont. Code Ann. § 35-10-201Partnership as entity
Mont. Code Ann. § 35-10-202Creation of partnership
Mont. Code Ann. § 35-10-203Partnership property
Mont. Code Ann. § 35-10-301Partner as agent of partnership
Mont. Code Ann. § 35-10-302Transfer of partnership property
Mont. Code Ann. § 35-10-303Repealed
Mont. Code Ann. § 35-10-304Repealed
Mont. Code Ann. § 35-10-305Partnership liable for partner's actionable conduct
Mont. Code Ann. § 35-10-306Repealed
Mont. Code Ann. § 35-10-307Partner's liability
Mont. Code Ann. § 35-10-308Purported partner
Mont. Code Ann. § 35-10-309Liability of incoming partner
Mont. Code Ann. § 35-10-310Statement of partnership authority
Mont. Code Ann. § 35-10-311Statement of denial
Mont. Code Ann. § 35-10-312Action by and against partnership and partners
Mont. Code Ann. § 35-10-401Partner's rights and duties
Mont. Code Ann. § 35-10-402Partner's right to information
Mont. Code Ann. § 35-10-403Duty of partners to render information
Mont. Code Ann. § 35-10-404Repealed
Mont. Code Ann. § 35-10-405General standards of partner's conduct
Mont. Code Ann. § 35-10-406Continuation of partnership beyond definite term or particular undertaking
Mont. Code Ann. § 35-10-407Distributions in kind
Mont. Code Ann. § 35-10-408Partner's liability to partnership
Mont. Code Ann. § 35-10-409Remedies of partnership and partners
Mont. Code Ann. § 35-10-501Repealed
Mont. Code Ann. § 35-10-502Repealed
Mont. Code Ann. § 35-10-503Repealed
Mont. Code Ann. § 35-10-504Repealed
Mont. Code Ann. § 35-10-505Partner's transferable interest subject to charging order1 cite
Mont. Code Ann. § 35-10-506Partner's application to discharge attachment -- undertaking
Mont. Code Ann. § 35-10-507Repealed
Mont. Code Ann. § 35-10-508Partner's interest in partnership property not transferable
Mont. Code Ann. § 35-10-509Partner's transferable interest in partnership
Mont. Code Ann. § 35-10-510Transfer of partner's transferable interest
Mont. Code Ann. § 35-10-601Repealed
Mont. Code Ann. § 35-10-602Partnership continues after dissolution
Mont. Code Ann. § 35-10-603Repealed
Mont. Code Ann. § 35-10-604Repealed
Mont. Code Ann. § 35-10-605Repealed
Mont. Code Ann. § 35-10-606Repealed
Mont. Code Ann. § 35-10-607Repealed
Mont. Code Ann. § 35-10-608Repealed
Mont. Code Ann. § 35-10-609Right to wind up partnership business
Mont. Code Ann. § 35-10-610Repealed
Mont. Code Ann. § 35-10-611Repealed
Mont. Code Ann. § 35-10-612Repealed
Mont. Code Ann. § 35-10-613Repealed
Mont. Code Ann. § 35-10-614Repealed
Mont. Code Ann. § 35-10-615Repealed
Mont. Code Ann. § 35-10-616Events causing partner's dissociation
Mont. Code Ann. § 35-10-617Partner's wrongful dissociation
Mont. Code Ann. § 35-10-618Effect of partner's dissociation
Mont. Code Ann. § 35-10-619Purchase of dissociated partner's interest
Mont. Code Ann. § 35-10-620Dissociated partner's power to bind partnership -- liability to partnership
Mont. Code Ann. § 35-10-621Dissociated partner's liability to other persons
Mont. Code Ann. § 35-10-622Statement of dissociation -- filing
Mont. Code Ann. § 35-10-623Continued use of partnership name
Mont. Code Ann. § 35-10-624Events causing dissolution and winding up of partnership business
Mont. Code Ann. § 35-10-625Dissolution deferred 90 days
Mont. Code Ann. § 35-10-626Partner's power to bind partnership after dissolution
Mont. Code Ann. § 35-10-627Statement of dissolution
Mont. Code Ann. § 35-10-628Partner's liability to other partners after dissolution
Mont. Code Ann. § 35-10-629Settlement of accounts among partners
Mont. Code Ann. § 35-10-630through 35-10-634 reserved
Mont. Code Ann. § 35-10-635Conversion of partnership to limited partnership
Mont. Code Ann. § 35-10-636Conversion of limited partnership to partnership
Mont. Code Ann. § 35-10-637Effect of conversion -- entity unchanged
Mont. Code Ann. § 35-10-638through 35-10-640 reserved
Mont. Code Ann. § 35-10-641Merger of partnerships
Mont. Code Ann. § 35-10-642Effect of merger
Mont. Code Ann. § 35-10-643Statement of merger
Mont. Code Ann. § 35-10-644Nonexclusive
Mont. Code Ann. § 35-10-701Registration of limited liability partnerships
Mont. Code Ann. § 35-10-702Effect of registration -- entity unchanged
Mont. Code Ann. § 35-10-703Name of limited liability partnerships
Mont. Code Ann. § 35-10-704through 35-10-709 reserved
Mont. Code Ann. § 35-10-710Applicability to foreign or interstate commerce
Mont. Code Ann. § 35-10-711through 35-10-714 reserved
Mont. Code Ann. § 35-10-715Term and renewal of limited liability partnership registration
Mont. Code Ann. § 35-10-716Application for renewal of limited liability partnership registration
Mont. Code Ann. § 35-10-717Amendment to registration of limited liability partnership
Mont. Code Ann. § 35-10-718Filing amendment to registration of limited liability partnership -- issuance of certificate
Mont. Code Ann. § 35-10-719Reservation of proposed limited liability partnership name
Mont. Code Ann. § 35-10-720Filing application for reservation of limited liability partnership name -- issuance of certificate
Mont. Code Ann. § 35-10-721Voluntary cancellation of registration of limited liability partnership
Mont. Code Ann. § 35-10-722Execution constituting affirmation -- penalty -- warning
Mont. Code Ann. § 35-10-723Evidentiary effect of certificates and documents of secretary of state
Mont. Code Ann. § 35-10-724Effect of transacting business without certificate

Enacted in other states

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