805 ILCS 215/1002

Current through Public Act 103-593

Section 805 ILCS 215/1002 - Derivative action

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.

805 ILCS 215/1002

Added by P.A. 093-0967, § 1002, eff. 1/1/2005.