Derivative action.

  1. Law
  2. New Mexico Statutes
  3. Partnerships
  4. Uniform Revised Limited Partnership Act
  5. Actions by Partners
  6. Derivative action.

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A partner may maintain a derivative action to enforce a right of a limited partnership if:

A. the partner first makes a demand on the general partners, requesting that they cause the limited partnership to bring an action to enforce the right, and the general partners do not bring the action within a reasonable time; or

B. a demand would be futile.

History: Laws 2007, ch. 129, § 1002.

ANNOTATIONS

Effective dates. — Laws 2007, ch. 129, § 1208 made the section effective January 1, 2008.


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