Statutory Provisions under New York Law
As discussed in our last Blog post, the right to an accounting exists under common law and, in some instances, according to statute
The accounting remedy is codified in New York Partnership Law § 44 and New York Business Corporation Law § 720. Section 44 of the Partnership Law provides that:
Any partner shall have the right to a formal account as to partnership affairs:
1. If he is wrongfully excluded from the partnership business or possession of its property by his copartners,
2. If the right exists under the terms of any agreement,
3. As provided by section forty-three,
4. Whenever other circumstances render it just and reasonable.