§ 61-1-402. Distributions in Kind
A partner has no right to receive, and may not be required to accept, a distribution in kind.
§ 61-1-403. Partner’s Rights and Duties With Respect to Information
A partnership shall keep its books and records, if any, at its chief executive office. A partnership shall provide partners and their agents and attorneys access to its books and records. It shall provide former partners and their agents and attorneys access to books and records pertaining to the period during which they were partners. […]
§ 61-1-404. General Standards of Partner’s Conduct
The only fiduciary duties a partner owes to the partnership and the other partners are the duty of loyalty and the duty of care set forth in subsections (b) and (c). A partner’s duty of loyalty to the partnership and the other partners is limited to the following: To account to the partnership and hold […]
§ 61-1-405. Actions by Partnership and Partners
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 […]
§ 61-1-202. Formation of Partnership
Except as otherwise provided in subsection (b), the association of two (2) or more persons to carry on as co-owners of a business for profit forms a partnership, whether or not the persons intend to form a partnership. An association formed under a statute other than this chapter, a predecessor statute, or a comparable statute […]
§ 61-1-203. Partnership Property
Property transferred to or otherwise acquired by a partnership is property of the partnership and not of the partners individually.
§ 61-1-204. When Property Is Partnership Property
Property is partnership property if acquired in the name of: The partnership; or One (1) or more partners with an indication in the instrument transferring title to the property of the person’s capacity as a partner or of the existence of a partnership but without an indication of the name of the partnership. Property is […]
§ 61-1-301. Partner Agent of Partnership
Subject to the effect of a statement of partnership authority under § 61-1-303: Each partner is an agent of the partnership for the purpose of its business. An act of a partner, including the execution of an instrument in the partnership name, for apparently carrying on in the ordinary course the partnership business or business […]
§ 61-1-302. Transfer of Partnership Property
Partnership property may be transferred as follows: Subject to the effect of a statement of partnership authority under § 61-1-303, partnership property held in the name of the partnership may be transferred by an instrument of transfer executed by a partner in the partnership name; Partnership property held in the name of one (1) or […]
§ 61-1-303. Statement of Partnership Authority
A partnership may file a statement of partnership authority, which: Must include: The name of the partnership; The street address of its chief executive office (and a mailing address such as a post office box if the United States postal service does not deliver to the chief executive office) and of one (1) office in […]