362.1-405 Actions by partnership and partners.
(1)
(2)
(3)
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.
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 subchapter, including:
1.
The partner's rights under KRS 362.1-401, 362.1-403, or 362.1-404;
2.
The partner's right on dissociation to have the partner's interest in the
partnership purchased pursuant to KRS 362.1-701 or enforce any other
right under KRS 362.1-601 to 362.1-705; or
3.
The partner's right to compel a dissolution and winding up of the
partnership business under or enforce any other right under KRS 362.1801 to 362.1-807; or
(c) Enforce the rights and otherwise protect the interests of the partner, including
rights and interests arising independently of the partnership relationship.
The accrual of, and any time limitation on, a right of action for a remedy under this
section is governed by KRS Chapter 413. A right to an accounting upon a
dissolution and winding up does not revive a claim barred by law.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 40, effective July 12, 2006.
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