Uniform Partnership Act

Wyoming · Corporations, Partnerships and Associations · §§ 17-21-1001 to 17-21-907 · 64 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.

Sections covered

Wyo. Stat. Ann. § 17-21-1001Uniformity of application and construction
Wyo. Stat. Ann. § 17-21-1002Short title
Wyo. Stat. Ann. § 17-21-101Definitions
Wyo. Stat. Ann. § 17-21-102Knowledge and notice
Wyo. Stat. Ann. § 17-21-103Effect of partnership agreement; nonwaivable provisions
Wyo. Stat. Ann. § 17-21-104Supplemental principles of law
Wyo. Stat. Ann. § 17-21-105Execution, filing, and recording of statements
Wyo. Stat. Ann. § 17-21-106Law governing internal affairs
Wyo. Stat. Ann. § 17-21-107Partnership subject to amendment or repeal of chapter
Wyo. Stat. Ann. § 17-21-108Powers
Wyo. Stat. Ann. § 17-21-1101Registered limited liability partnerships
Wyo. Stat. Ann. § 17-21-1102Effect of registration; entity unchanged
Wyo. Stat. Ann. § 17-21-1103Name of registered limited liability partnership; limited rights
Wyo. Stat. Ann. § 17-21-1104Applicability of act to foreign and interstate commerce
Wyo. Stat. Ann. § 17-21-1105Registered limited liability partnership by licensed persons
Wyo. Stat. Ann. § 17-21-1106Statement of continuance
Wyo. Stat. Ann. § 17-21-1107Reinstatement following lapse of registration
Wyo. Stat. Ann. § 17-21-201Partnership as entity
Wyo. Stat. Ann. § 17-21-202Creation of partnership
Wyo. Stat. Ann. § 17-21-203Partnership property
Wyo. Stat. Ann. § 17-21-204When property is partnership property
Wyo. Stat. Ann. § 17-21-301Partner agent of partnership
Wyo. Stat. Ann. § 17-21-302Transfer of partnership property
Wyo. Stat. Ann. § 17-21-303Statement of partnership authority
Wyo. Stat. Ann. § 17-21-304Statement of denial
Wyo. Stat. Ann. § 17-21-305Partnership liable for partner's actionable conduct
Wyo. Stat. Ann. § 17-21-306Partner's liability
Wyo. Stat. Ann. § 17-21-307Actions by and against partnership and partners
Wyo. Stat. Ann. § 17-21-308Purported partner
Wyo. Stat. Ann. § 17-21-309Liability of incoming partner
Wyo. Stat. Ann. § 17-21-401Partner's rights and duties
Wyo. Stat. Ann. § 17-21-402Distributions in kind
Wyo. Stat. Ann. § 17-21-403Partner's right to information
Wyo. Stat. Ann. § 17-21-404General standards of partner's conduct
Wyo. Stat. Ann. § 17-21-405Partner's liability to partnership
Wyo. Stat. Ann. § 17-21-406Remedies of partnership and partners
Wyo. Stat. Ann. § 17-21-407Continuation of partnership beyond definite term or particular undertaking
Wyo. Stat. Ann. § 17-21-501Partner's interest in partnership property not transferable
Wyo. Stat. Ann. § 17-21-502Partner's transferable interest in partnership
Wyo. Stat. Ann. § 17-21-503Transfer of partner's transferable interest
Wyo. Stat. Ann. § 17-21-504Partner's transferable interest subject to charging order
Wyo. Stat. Ann. § 17-21-601Events causing partner's dissociation
Wyo. Stat. Ann. § 17-21-602Partner's wrongful dissociation
Wyo. Stat. Ann. § 17-21-603Effect of partner's dissociation
Wyo. Stat. Ann. § 17-21-701Purchase of dissociated partner's interest
Wyo. Stat. Ann. § 17-21-702Dissociated partner's power to bind and liability to partnership
Wyo. Stat. Ann. § 17-21-703Dissociated partner's liability to other persons
Wyo. Stat. Ann. § 17-21-704Statement of dissociation
Wyo. Stat. Ann. § 17-21-705Continued use of partnership name
Wyo. Stat. Ann. § 17-21-801Events causing dissolution and winding up of partnership business
Wyo. Stat. Ann. § 17-21-802Dissolution deferred ninety days
Wyo. Stat. Ann. § 17-21-803Partnership continues after dissolution
Wyo. Stat. Ann. § 17-21-804Right to wind up partnership business
Wyo. Stat. Ann. § 17-21-805Partner's power to bind partnership after dissolution
Wyo. Stat. Ann. § 17-21-806Statement of dissolution
Wyo. Stat. Ann. § 17-21-807Partner's liability to other partners after dissolution
Wyo. Stat. Ann. § 17-21-808Settlement of accounts among partners
Wyo. Stat. Ann. § 17-21-901Conversion of partnership to limited partnership
Wyo. Stat. Ann. § 17-21-902Conversion of limited partnership to partnership
Wyo. Stat. Ann. § 17-21-903Effect of conversion; entity unchanged
Wyo. Stat. Ann. § 17-21-904Merger of partnerships
Wyo. Stat. Ann. § 17-21-905Effect of merger
Wyo. Stat. Ann. § 17-21-906Statement of merger
Wyo. Stat. Ann. § 17-21-907Nonexclusive

Enacted in other states

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

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