§ 8592. Proper plaintiff.
(a) General rule.--In a derivative action under this subchapter, the plaintiff must be a partner at the time of bringing the action and:
(1) at the time of the transaction of which he complains; or
(2) his status as a partner shall have devolved upon him by operation of law or pursuant to the terms of the partnership agreement from a person who was a partner at the time of the transaction.
(b) Exception.--Any partner who, except for the provisions of subsection (a), would be entitled to maintain the action and who does not meet such requirements may, nevertheless in the discretion of the court, be allowed to maintain the action on preliminary showing to the court, by application and upon such verified statements and depositions as may be required by the court, that there is a strong prima facie case in favor of the claim asserted on behalf of the limited partnership and that without the action serious injustice will result.
Section: Previous 8563 8564 8565 8571 8572 8573 8574 8575 8576-167-8580 8581-167-8590 8591 8592 8593 8594 NextLast modified: October 8, 2016