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Searching 2017-2018 Session

The Vermont Statutes Online

Title 11 : Corporations, Partnerships and Associations

Chapter 022 : PARTNERSHIPS

Subchapter 004 : RELATIONS OF PARTNERS TO EACH OTHER AND TO PARTNERSHIP

(Cite as: 11 V.S.A. § 3235)
  • § 3235. 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:

    (A) the partner's rights under section 3231, 3233, or 3234 of this title;

    (B) the partner's right on dissociation to have the partner's interest in the partnership purchased pursuant to section 3261 of this title or enforce any other right under subchapter 6 or 7 of this chapter; or

    (C) the partner's right to compel a dissolution and winding up of the partnership business under section 3271 of this title or enforce any other right under subchapter 8 of this chapter; 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. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)