486A.307 Actions by and against partnership and partners.
1. A partnership may sue and be sued in the name of the partnership.
2. An action may be brought against the partnership and, to the extent not inconsistent with section 486A.306, any or all of the partners in the same action or in separate actions.
3. A judgment against a partnership is not by itself a judgment against a partner. A judgment against a partnership shall not be satisfied from a partner’s assets unless there is also a judgment against the partner.
4. A judgment creditor of a partner shall not levy execution against the assets of the partner to satisfy a judgment based on a claim against the partnership unless the partner is personally liable for the claim under section 486A.306 and one or more of the following apply:
a. A judgment based on the same claim has been obtained against the partnership and a writ of execution on the judgment has been returned unsatisfied in whole or in part.
b. The partnership is a debtor in bankruptcy.
c. The partner has agreed that the creditor need not exhaust partnership assets.
d. A court grants permission to the judgment creditor to levy execution against the assets of a partner based on a finding that partnership assets subject to execution are clearly insufficient to satisfy the judgment, that exhaustion of partnership assets is excessively burdensome, or that the grant of permission is an appropriate exercise of the court’s equitable powers.
e. Liability is imposed on the partner by law or contract independent of the existence of the partnership.
5. This section applies to any partnership liability or obligation resulting from a representation by a partner or purported partner under section 486A.308.
98 Acts, ch 1201, §18, 79, 82
Structure Iowa Code
Chapter 486A - UNIFORM PARTNERSHIP ACT
Section 486A.101 - Definitions.
Section 486A.102 - Knowledge and notice.
Section 486A.103 - Effect of partnership agreement — nonwaivable provisions.
Section 486A.104 - Supplemental principles of law.
Section 486A.105 - Execution, filing, and recording of statements.
Section 486A.105A - Secretary of state — extra services — surcharge.
Section 486A.106 - Governing law.
Section 486A.107 - Partnership subject to amendment or repeal of chapter.
Section 486A.201 - Partnership as entity.
Section 486A.202 - Formation of partnership.
Section 486A.203 - Partnership property.
Section 486A.204 - When property is partnership property.
Section 486A.301 - Partner agent of partnership.
Section 486A.302 - Transfer of partnership property.
Section 486A.303 - Statement of partnership authority.
Section 486A.304 - Statement of denial.
Section 486A.305 - Partnership liable for partner’s actionable conduct.
Section 486A.306 - Partner’s liability.
Section 486A.307 - Actions by and against partnership and partners.
Section 486A.308 - Liability of purported partner.
Section 486A.401 - Partner’s rights and duties.
Section 486A.402 - Distributions in kind.
Section 486A.403 - Partner’s rights and duties with respect to information.
Section 486A.404 - General standards of partner’s conduct.
Section 486A.405 - Actions by partnership and partners.
Section 486A.406 - Continuation of partnership beyond definite term or particular undertaking.
Section 486A.501 - Partner not co-owner of partnership property.
Section 486A.502 - Partner’s transferable interest in partnership.
Section 486A.503 - Transfer of partner’s transferable interest.
Section 486A.504 - Partner’s transferable interest subject to charging order.
Section 486A.601 - Events causing partner’s dissociation.
Section 486A.602 - Partner’s power to dissociate — wrongful dissociation.
Section 486A.603 - Effect of partner’s dissociation.
Section 486A.701 - Purchase of dissociated partner’s interest.
Section 486A.702 - Dissociated partner’s power to bind and liability to partnership.
Section 486A.703 - Dissociated partner’s liability to other persons.
Section 486A.704 - Statement of dissociation.
Section 486A.705 - Continued use of partnership name.
Section 486A.801 - Events causing dissolution and winding up of partnership business.
Section 486A.802 - Partnership continues after dissolution.
Section 486A.803 - Right to wind up partnership business.
Section 486A.804 - Partner’s power to bind partnership after dissolution.
Section 486A.805 - Statement of dissolution.
Section 486A.806 - Partner’s liability to other partners after dissolution.
Section 486A.807 - Settlement of accounts and contributions among partners.
Section 486A.901 - Definitions.
Section 486A.902 - Conversion of partnership to limited partnership.
Section 486A.903 - Conversion of limited partnership to partnership.
Section 486A.904 - Effect of conversion — entity unchanged.
Section 486A.905 - Merger of partnerships.
Section 486A.906 - Effect of merger.
Section 486A.907 - Statement of merger.
Section 486A.908 - Nonexclusive.
Section 486A.1001 - Statement of qualification.
Section 486A.1101 - Law governing foreign limited liability partnership.
Section 486A.1102 - Statement of foreign qualification.
Section 486A.1103 - Effect of failure to qualify.
Section 486A.1104 - Activities not constituting transacting business.
Section 486A.1105 - Action by attorney general.
Section 486A.1201 - Filing requirements.
Section 486A.1203 - Effective time and date of documents.
Section 486A.1204 - Correcting filed documents.
Section 486A.1205 - Filing duty of secretary of state.
Section 486A.1206 - Appeal from secretary of state’s refusal to file document.
Section 486A.1207 - Evidentiary effect of copy of filed document.
Section 486A.1208 - Certificates issued by secretary of state.
Section 486A.1209 - Penalty for signing false document.
Section 486A.1210 - Secretary of state powers.
Section 486A.1211 - Registered office and registered agent.
Section 486A.1212 - Change of registered office or registered agent.
Section 486A.1213 - Resignation of registered agent.
Section 486A.1214 - Service on partnership.
Section 486A.1301 - Uniformity of application and construction.