Colorado § 7-60-122 - Right to an account.

§ 7-60-122. Right to an account.

(1) Any partner shall have the right to a formal account as to partnership affairs:

(a) If the partner is wrongfully excluded from the partnership business or possession of its property by the other partners;

(b) If the right exists under the terms of any agreement;

(c) As provided by section 7-60-121;

(d) Whenever other circumstances render it just and reasonable.

Source: L. 31: p. 656, § 22. CSA: C. 123, § 22. CRS 53: § 104-1-22. C.R.S. 1963: § 104-1-22. L. 2004: (1)(a) amended, p. 1425, § 82, effective July 1.

ANNOTATION

Having determined that a partnership exists, the right to an accounting necessarily follows. Roberts v. Roberts, 113 Colo. 128, 155 P.2d 155 (1945).

But no right to receivership. A partner has a right to an accounting, a right to a dissolution, the right to contribution, and various rights on dissolution, but nowhere does the uniform act provide that even a bona fide partner has a right to receivership for property that he says belongs to the firm. Mann v. Friden, 132 Colo. 273, 287 P.2d 961 (1955).

No right to derivative action, absent exceptional circumstances. Adams v. Land Servs., Inc., 194 P.3d 429 (Colo. App. 2008).