Section 323A.0402 — Distributions In Kind.
323A.0402 DISTRIBUTIONS IN KIND. A partner has no right to receive, and may not be required to accept, a distribution in kind. History: 1997 c 174 art 4 s 21
Section 323A.0403 — Partner’s Rights And Duties With Respect To Information.
323A.0403 PARTNER’S RIGHTS AND DUTIES WITH RESPECT TO INFORMATION. (a) A partnership shall keep its books and records, if any, at its chief executive office. (b) 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 […]
Section 323A.0404 — General Standards Of Partner’s Conduct.
323A.0404 GENERAL STANDARDS OF PARTNER’S CONDUCT. (a) 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). (b) A partner’s duty of loyalty to the partnership and the other partners is limited to the […]
Section 323A.0405 — Actions By Partnership And Partners.
323A.0405 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 […]
Section 323A.0406 — Continuation Of Partnership Beyond Definite Term Or Particular Undertaking.
323A.0406 CONTINUATION OF PARTNERSHIP BEYOND DEFINITE TERM OR PARTICULAR UNDERTAKING. (a) If a partnership for a definite term or particular undertaking is continued, without an express agreement, after the expiration of the term or completion of the undertaking, the rights and duties of the partners remain the same as they were at the expiration or […]
Section 323A.0501 — Partner Not Co-owner Of Partnership Property.
323A.0501 PARTNER NOT CO-OWNER OF PARTNERSHIP PROPERTY. A partner is not a co-owner of partnership property and has no interest in partnership property which can be transferred, either voluntarily or involuntarily. History: 1997 c 174 art 5 s 26
Section 323A.0502 — Partner’s Transferable Interest In Partnership.
323A.0502 PARTNER’S TRANSFERABLE INTEREST IN PARTNERSHIP. The only transferable interest of a partner in the partnership is the partner’s share of the profits and losses of the partnership and the partner’s right to receive distributions. The interest is personal property. History: 1997 c 174 art 5 s 27
Section 323A.0503 — Transfer Of Partner’s Transferable Interest.
323A.0503 TRANSFER OF PARTNER’S TRANSFERABLE INTEREST. (a) A transfer, in whole or in part, of a partner’s transferable interest in the partnership: (1) is permissible; (2) does not by itself cause the partner’s dissociation or a dissolution and winding up of the partnership business; and (3) does not, as against the other partners or the […]
Section 323A.0504 — Partner’s Transferable Interest Subject To Charging Order.
323A.0504 PARTNER’S TRANSFERABLE INTEREST SUBJECT TO CHARGING ORDER. (a) On application by a judgment creditor of a partner or of a partner’s transferee, a court having jurisdiction may charge the transferable interest of the judgment debtor to satisfy the judgment. The court may appoint a receiver of the share of the distributions due or to […]
Section 323A.0303 — Statement Of Partnership Authority.
323A.0303 STATEMENT OF PARTNERSHIP AUTHORITY. (a) A partnership may file a statement of partnership authority, which: (1) must include: (i) the name of the partnership; (ii) the street address, including the zip code, of its chief executive office and of one office in this state, if there is one; (iii) the names and mailing addresses, […]