§ 7-64-405 — Actions by partnership and partners

Colorado § 7-64-405

• Jurisdiction: Colorado
• Title 07: Corporations
• Art.: Colorado Uniform Partnership Act (1997)

Text

(1) A partnership may
maintain an action against a partner for a breach of the partnership agreement, or
for the violation of a duty to the partnership, causing harm to the partnership.

(2) A partner may maintain an action against the partnership or another
partner for legal or equitable relief, with or without an accounting as to partnership
business, to:

(a) Enforce the partner's rights under the partnership agreement;

(b) Enforce the partner's rights under this article, including:

(I) The partner's rights under section 7-64-401, 7-64-403, or 7-64-404;

(II) The partner's right on dissociation to have the partner's interest in the
partnership purchased pursuant to section 7-64-701 or enforce any other right
under part 6 or part 7 of this article; or

(III) The partner's right to compel a dissolution and winding up of the
partnership business under section 7-64-801 or enforce any other right under part
8 of this article; or

(c) Enforce the rights and otherwise protect the interests of the partner,
including rights and interests arising independently of the partnership relationship.

(3) The accrual of, and any time limitation on, a right of action for a remedy
under this section is governed by other law. A right to an accounting upon a
dissolution and winding up does not revive a claim barred by law.

Legislative History

Source: L. 97: Entire article added, p. 882, � 1, effective January 1, 1998.