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2018 Georgia Code 14-8-43 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 14-8-43 Case Law from Google Scholar Amendments to OCGA 14-8-43

TITLE 14 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Section 8. Partnerships, 14-8-1 through 14-8-64.

ARTICLE 3 CORPORATIONS ORGANIZED FOR RELIGIOUS, FRATERNAL, OR EDUCATIONAL PURPOSES

14-8-43. Rights of partners to accounting of interest in partnership upon dissolution.

The right to an account of his interest shall accrue to any partner, his assignee, or his legal representative, as against the winding up partners or the surviving partners or the person or partnership continuing the business, at the date of dissolution, in the absence of any agreement to the contrary.

(Code 1981, §14-8-43, enacted by Ga. L. 1984, p. 1439, § 1.)

COMMENT

Note to Uniform Partnership Act Under this section, the statute of limitations on a partner's right to an accounting begins to run at the time of dissolution. This section also identifies who may enforce the right to account.

Prior Georgia Law There was no comparable provision. Georgia case law was inconsistent in holding that the four year limitations period under O.C.G.A. § 9-3-25 (governing actions on accounts) begins to run after partnership affairs have been settled rather than at the earlier time of dissolution. See Prentice v. Elliott, 72 Ga. 154 (1883).

Official UPA This section is the same as the official version except that the right to sue for an account is given not only to the partner or his legal representative, but also to a partner's assignee. This is consistent with new subsection14-8-27(c) (assignee has right to an account from the date of last account agreed to by the partners); § 14-8-37 (assignee may obtain winding up by the court); and § 14-8-32(b) (assignee may sue for dissolution).

Cross-References Assignee's right to account: § 14-8-27(c). When dissolution occurs: § 14-8-31. Right to wind up the partnership after dissolution: § 14-8-37. Right to application of property after dissolution: § 14-8-38. Rules for distribution of property after dissolution: § 14-8-40. Rights to profits or interest when business continued after dissolution: § 14-8-42.

JUDICIAL DECISIONS

Cited in Arford v. Blalock, 199 Ga. App. 434, 405 S.E.2d 698 (1991).

RESEARCH REFERENCES

Am. Jur. 2d.

- 59A Am. Jur. 2d, Partnership, §§ 600 et seq., 656 et seq.

C.J.S.

- 68 C.J.S., Partnership, §§ 331, 348, 350, 351, 453 et seq., 455 et seq.

ALR.

- When statute of limitations commences to run on right of partnership accounting, 44 A.L.R.4th 678.

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