Chapter 19: UNIFORM LIMITED PARTNERSHIP ACT HEADING: PL 2005, C. 543, PT. C, §2 (NEW)
Subchapter 10: ACTIONS BY PARTNERS HEADING: PL 2005, C. 543, PT. C, §2 (NEW)
§1423. Proper plaintiff
A derivative action may be maintained only by a person that is a partner at the time the action is commenced and: [2005, c. 543, Pt. C, §2 (NEW).]
1.Partner when conduct occurred. That was a partner when the conduct giving rise to the action occurred; or
[
2005, c. 543, Pt. C, §2 (NEW)
.]
2.Partner status. Whose status as a partner devolved upon the person by operation of law or pursuant to the terms of the partnership agreement
from a person that was a partner at the time of the conduct.
[
2005, c. 543, Pt. C, §2 (NEW)
.]
SECTION HISTORY
2005, c. 543, §C2 (NEW).
Data for this page extracted on 10/14/2009 10:53:53.