§1041. Partner’s rights and duties 1. Partner’s account. Each partner is deemed to have an account that is: A. Credited with an amount equal to the money plus the value of any other property, net of the amount of any liabilities, that the partner contributes to the partnership and the partner’s share of the […]
§1042. Distributions in kind A partner has no right to receive, and may not be required to accept, a distribution in kind. [PL 2005, c. 543, Pt. A, §2 (NEW).] SECTION HISTORY PL 2005, c. 543, §A2 (NEW).
§1043. Partner’s rights and duties with respect to information 1. Books and records at chief executive office. A partnership shall keep its books and records, if any, at its chief executive office. [PL 2005, c. 543, Pt. A, §2 (NEW).] 2. Access to books and records. A partnership shall provide partners and their agents […]
§1044. General standards of partner’s conduct 1. Partner’s fiduciary duties. 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 2 and 3 as those duties may be clarified or limited in the partnership agreement to the […]
§1045. Actions by partnership and partners 1. Partnership action against partner. 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. [PL 2005, c. 543, Pt. A, §2 (NEW).] 2. Partner action against […]
§1046. Continuation of partnership beyond definite term or particular undertaking 1. Rights and duties as at expiration or completion. 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 […]
