§ 4-46-405 - Actions by partnership and partners. - Arkansas Statutes

4-46-405. 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 chapter, including:

(i) the partner's rights under 4-46-401, 4-46-403, or 4-46-404;

(ii) the partner's right on dissociation to have the partner's interest in the partnership purchased pursuant to 4-46-701 or enforce any other right under 4-46-601 et seq. or 4-46-701 et seq.; or

(iii) the partner's right to compel a dissolution and winding up of the partnership business under 4-46-801 or enforce any other right under 4-46-801 et seq.; 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.