New Mexico § 54-2A-1001 Direct action by partner

New Mexico Statutes

§ 54-2A-1001 — Direct action by partner

New Mexico § 54-2A-1001

Ch. 54Partnerships

Art. 10Actions by Partners

This text of New Mexico § 54-2A-1001 (Direct action by partner) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 54-2A-1001 (2026).

Text

A.Subject to Subsection B of this section, a partner may maintain a direct action against the limited partnership or another partner for legal or equitable relief, with or without an accounting as to the partnership's activities, to enforce the rights and otherwise protect the interests of the partner, including rights and interests pursuant to the partnership agreement or the Uniform Revised Limited Partnership Act, or arising independently of the partnership relationship.

B.A partner commencing a direct action pursuant to this section is required to 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.The accrual of, and any time limitation on, a right of action for a remedy pursua

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A. Subject to Subsection B of this section, a partner may maintain a direct action against the limited partnership or another partner for legal or equitable relief, with or without an accounting as to the partnership's activities, to enforce the rights and otherwise protect the interests of the partner, including rights and interests pursuant to the partnership agreement or the Uniform Revised Limited Partnership Act, or arising independently of the partnership relationship. B. A partner commencing a direct action pursuant to this section is required to 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. The accrual of, and any time limitation on, a right of action for a remedy pursuant to 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.