§ 10A-9A-9.01 — Direct Action by Partner

Alabama § 10A-9A-9.01

• Jurisdiction: Alabama
• Title 10A: Alabama Business and Nonprofit Entities Code
• Ch. 9A: Alabama Limited Partnership Law
• Art. 9: Actions by Partners

Text

(a) Subject to subsection (b), a partner may maintain a direct action against another partner or partners or the limited partnership, with or without an accounting as to the partnership’s activities and affairs, to enforce the partner’s rights and otherwise protect the partner’s interests, including rights and interests under the partnership agreement or this chapter or arising independently of the partnership relationship.
(b) A partner maintaining a direct action under subsection (a) must plead and prove an actual or threatened injury that is not solely the result of an injury suffered or threatened to be suffered by the limited partnership.
(c) A partner may maintain a direct action to enforce a right of a limited partnership if all partners at the time of suit are parties to the action.
(d) The accrual of, and any time limitation on, a right of action for a remedy under this section is governed by other law.
(e) A right to an accounting upon a dissolution and winding up does not revive a claim barred by law.

Legislative History

(Act 2016-379, §1.)