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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>68353</law_id><section_number>50-73.81</section_number><catch_line>Effect of partnership agreement; nonwaivable provisions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="50">Partnerships</unit><unit label="chapter" level="2" order_by="1" identifier="2.2">Virginia Uniform Partnership Act</unit><unit label="article" level="3" order_by="1" identifier="1">General Provisions</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> Except as otherwise provided in subsection B, relations among the partners and between the partners and the partnership are governed by the <span class="dictionary">partnership agreement</span>. To the extent the <span class="dictionary">partnership agreement</span> does not otherwise provide, this chapter governs relations among the partners and between the partners and the partnership. <a id="paragraph-247545" class="section-permalink" href="https://vacode.org/50-73.81/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The <span class="dictionary">partnership agreement</span> may not: <a id="paragraph-247546" class="section-permalink" href="https://vacode.org/50-73.81/#B"><i class="fa fa-link"/></a></p></section>
						<section id="B1" class="indent-1"><p><span class="prefix-number">1.</span> Vary the rights and duties in &#xA7; <a class="law" title="Execution, filing, and recording of statements; effective time and date; refunds; penalty" href="/50-73.83/">50-73.83</a> except to eliminate the duty to provide copies of <span class="dictionary">statements</span> to all of the partners; <a id="paragraph-247547" class="section-permalink" href="https://vacode.org/50-73.81/#B1"><i class="fa fa-link"/></a></p></section>
						<section id="B2" class="indent-1"><p><span class="prefix-number">2.</span> Unreasonably restrict the right of access to books and records in subsection B of &#xA7; <a class="law" title="Partner's rights and duties with respect to information" href="/50-73.101/">50-73.101</a>; <a id="paragraph-247548" class="section-permalink" href="https://vacode.org/50-73.81/#B2"><i class="fa fa-link"/></a></p></section>
						<section id="B3" class="indent-1"><p><span class="prefix-number">3.</span> Eliminate the obligation of good faith and fair dealing in subsection D of &#xA7; <a class="law" title="General standards of partner's conduct" href="/50-73.102/">50-73.102</a>, but the <span class="dictionary">partnership agreement</span> may prescribe the standards by which the performance of the obligation is to be measured, if the standards are not manifestly unreasonable; <a id="paragraph-247549" class="section-permalink" href="https://vacode.org/50-73.81/#B3"><i class="fa fa-link"/></a></p></section>
						<section id="B4" class="indent-1"><p><span class="prefix-number">4.</span> Vary the power to dissociate as a partner in subsection A of &#xA7; <a class="law" title="Partner's power to dissociate; wrongful dissociation" href="/50-73.110/">50-73.110</a>, except to require the notice in subdivision 1 of &#xA7; <a class="law" title="Events causing partner's dissociation" href="/50-73.109/">50-73.109</a> to be in writing; <a id="paragraph-247550" class="section-permalink" href="https://vacode.org/50-73.81/#B4"><i class="fa fa-link"/></a></p></section>
						<section id="B5" class="indent-1"><p><span class="prefix-number">5.</span> Vary the right of a <span class="dictionary">court</span> to expel a partner in the events specified in subdivision 5 of &#xA7; <a class="law" title="Events causing partner's dissociation" href="/50-73.109/">50-73.109</a>; <a id="paragraph-247551" class="section-permalink" href="https://vacode.org/50-73.81/#B5"><i class="fa fa-link"/></a></p></section>
						<section id="B6" class="indent-1"><p><span class="prefix-number">6.</span> Vary the requirement to wind up the partnership <span class="dictionary">business</span> in cases specified in subdivisions 4, 5 or 6 of &#xA7; <a class="law" title="Events causing dissolution and winding up of partnership business" href="/50-73.117/">50-73.117</a>; <a id="paragraph-247552" class="section-permalink" href="https://vacode.org/50-73.81/#B6"><i class="fa fa-link"/></a></p></section>
						<section id="B7" class="indent-1"><p><span class="prefix-number">7.</span> Restrict rights of third parties under this chapter without the consent of those third parties; or <a id="paragraph-247553" class="section-permalink" href="https://vacode.org/50-73.81/#B7"><i class="fa fa-link"/></a></p></section>
						<section id="B8" class="indent-1"><p><span class="prefix-number">8.</span> Vary the <span class="dictionary">law</span> applicable to <span class="dictionary">registered limited liability partnerships</span> as set forth in subsection B of &#xA7; <a class="law" title="Law governing internal relations" href="/50-73.84/">50-73.84</a>. <a id="paragraph-247554" class="section-permalink" href="https://vacode.org/50-73.81/#B8"><i class="fa fa-link"/></a></p></section></text><history>1996, c. 292.</history><metadata></metadata></law>
