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§ 1-405. Actions by partnership and partners

Oklahoma Statutes AnnotatedTitle 54. Partnership

Oklahoma Statutes Annotated
Title 54. Partnership
Chapter 1. Oklahoma Revised Uniform Partnership Act (Refs & Annos)
Article 4. Relations of Partners to Each Other and to Partnership
54 Okl.St.Ann. § 1-405
§ 1-405. Actions by partnership and partners
Currentness
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 the partner's rights under the partnership agreement;
(2) enforce the partner's rights under this act,1 including:
(i) the partner's rights under Sections 22, 24, or 25 of this act;2
(ii) the partner's right on dissociation to have the partner's interest in the partnership purchased pursuant to Section 35 of this act3 or enforce any other right under Article 6 or 7 of this act; or
(iii) the partner's right to compel a dissolution and winding up of the partnership business under Section 40 of this act4 or enforce any other right under Article 8 of this act; or
(3) enforce the rights and otherwise protect the interests of the 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.

Credits

Laws 1997, c. 399, § 26, eff. Nov. 1, 1997.

Footnotes

1
Title 54, § 1-100 et seq.
2
Title 54, §§ 1-401, 1-403, 1-404.
3
Title 54, § 1-701.
4
Title 54, § 1-801.
54 Okl. St. Ann. § 1-405, OK ST T. 54 § 1-405
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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