CODE OF VIRGINIA

ACTIONS BY PARTNERSHIP AND PARTNERS (§ 50-73.103)

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, 50-73.101, or §
      50-73.102;

      b.  That partner’s right on dissociation to have the partner’s
      interest in the partnership purchased pursuant to § 50-73.112 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 § 50-73.117 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.

HISTORY: 1996, c. 292.