A partner may maintain a derivative action to enforce a right of a limited partnership if:
(1) 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
(2) a demand would be futile.
Section: 4-47-1002 4-47-1003 4-47-1004 4-47-1005 NextLast modified: November 15, 2016