2021 Colorado Code
Title 7 - Corporations and Associations
Article 60 - Uniform Partnership Law
§ 7-60-122. Right to an Account
- Any partner shall have the right to a formal account as to partnership affairs:
- If the partner is wrongfully excluded from the partnership business or possession of its property by the other partners;
- If the right exists under the terms of any agreement;
- As provided by section 7-60-121;
- Whenever other circumstances render it just and reasonable.
History. Source: L. 31: P. 656, § 22. CSA: C. 123, § 22. CRS 53: § 104-1-22. C.R.S. 1963: § 104-1-22. L. 2004: (1)(a) amended, p. 1425, § 82, effective July 1. History. Source: L. 31: P. 656, § 22. CSA: C. 123, § 22. CRS 53: § 104-1-22. C.R.S. 1963: § 104-1-22. L. 2004: (1)(a) amended, p. 1425, § 82, effective July 1.
ANNOTATION
Having determined that a partnership exists, the right to an accounting necessarily follows. Roberts v. Roberts, 113 Colo. 128 , 155 P.2d 155 (1945).
But no right to receivership. A partner has a right to an accounting, a right to a dissolution, the right to contribution, and various rights on dissolution, but nowhere does the uniform act provide that even a bona fide partner has a right to receivership for property that he says belongs to the firm. Mann v. Friden, 132 Colo. 273 , 287 P.2d 961 (1955).
No right to derivative action, absent exceptional circumstances. Adams v. Land Servs., Inc., 194 P.3d 429 (Colo. App. 2008).
