Me. Stat. tit. 31 § 1422

Current through 131st (2023-2024) Legislature Chapter 684

Section 1422 - Derivative action

A partner may maintain a derivative action to enforce a right of a limited partnership if: [2005, c. 543, Pt. C, §2(NEW).]

1.Demand for limited partnership to enforce. 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

[2005, c. 543, Pt. C, §2(NEW).]

2.Demand futile. A demand would be futile.

[2005, c. 543, Pt. C, §2(NEW).]

31 M.R.S. § 1422

2005, c. 543, §C2 (NEW) .