Md. Code Ann., Corps. & Ass'ns § 9A-405
Actions by partnership and partners
Effective Jul 1, 1998Added as Corporations and Associations § 9-405 by Acts 1997, c. 654, § 2, eff. July 1, 1998. Renumbered as Corporations and Associations § 9A-405 by Acts 1998, c. 743, § 1, eff. June 1, 1998.State of Maryland
- (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 title, including:
- (i) The partner's rights under § 9A-401, § 9A-403, or § 9A-404 of this subtitle;
- (ii) The partner's right on dissociation to have the partner's interest in the partnership purchased pursuant to § 9A-701 of this title or enforce any other right under Subtitle 6 or Subtitle 7 of this title; or
- (iii) The partner's right to compel a dissolution and winding up of the partnership business under § 9A-801 of this title or enforce any other right under Subtitle 8 of this title; 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 as Corporations and Associations § 9-405 by Acts 1997, c. 654, § 2, eff. July 1, 1998. Renumbered as Corporations and Associations § 9A-405 by Acts 1998, c. 743, § 1, eff. June 1, 1998.