487.1001  Right of action.

A limited partner has standing to bring an action to recover a judgment in the limited partnership's favor if general partners with authority to bring the action have refused to do so or if an effort to cause those general partners to bring the action is not likely to succeed.

Section History: Early form

  [C24, 27, 31, 35, 39, § 9857; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 545.52; 82 Acts, ch 1103, § 1001]

Section History: Recent form

  C93, § 487.1001

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