Code of Virginia (Last Updated:July 28, 2020) |
TITLE 50. Partnerships |
CHAPTER 2.2. Virginia Uniform Partnership Act |
ARTICLE 4. Relations of Partners to Each Other and to Partnership |
SECTION 50-73.103. Actions by partnership and partners |
A. 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. B. 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: 1. Enforce that partner's rights under the partnership agreement; 2. Enforce that partner's rights under this chapter, including: a. That partner's rights under §§ 50-73.99 , 50-73.99 , or § 50-73.99 ; b. That partner's right on dissociation to have the partner's interest in the partnership purchased pursuant to § 50-73.99 or enforce any other right under Article 6 or Article 7; or c. That partner's right to compel a dissolution and winding up of the partnership business under § 50-73.99 or enforce any other right under Article 8; or 3. Enforce the rights and otherwise protect the interests of that partner, including rights and interests arising independently of the partnership relationship. C. 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. 1996, c. 50-73.99 . |