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interest in partnership property. The partnership is treated as an | entity separate from the partners for purposes of property | interests. |
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| | Under current Maine law, every partner has access at all times | to inspect and copy the partnership's books and records. RUPA is | generally the same as the current law except that access is also | afforded to former partners with respect to books and records | pertaining to the period during which they were partners. Also | under RUPA, a partner's right of access to books and records may | not be unreasonably restricted by the partnership agreement. | Thus, reasonable restrictions by agreement are authorized. |
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| | RUPA provides that partners and the partnership have an | affirmative obligation to furnish to a partner without demand any | information concerning the partnership's business and affairs | reasonably required for the proper exercise of the partner's | rights and duties under the partnership agreement for the act. | As to other information, a partner and the partnership must | furnish the information on demand, except to the extent that the | demand or information is unreasonable or otherwise improper under | the circumstances. Current law contains no express provision. |
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| | RUPA clearly and exclusively defines the duties of loyalty and | duty of care; it specifies that a partner may transact business | with the partnership without violating any duties and it provides | that there is no per se violation of a duty solely on account of | the fact that the conduct furthers a partner's interest. There | is no comparable provision in current law on standards of partner | conduct, so it must be addressed by the common law. |
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| | Current law does not address an action of the partnership | against a partner. RUPA permits a partnership to maintain an | action against a partner. |
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| | Current Maine law provides that any partner has the right to a | formal account as to partnership affairs under certain | circumstances. The right of a partner to make an action against | a partnership is much broader and more specific under RUPA. In | particular, RUPA allows an action to be made against the | partnership by a partner with or without an accounting as to the | partnership business. |
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| | Under current law, the partners are tenants in partnership as | to partnership property. Under RUPA, a partner is not a co-owner | of partnership property; a partner has no interest in partnership | property that can be transferred. |
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