N.J. Stat. § 42:2A-63

Current through L. 2024, c. 87.

Section 42:2A-63 - Proper plaintiff

In order to bring a derivative action, the limited partner shall be a limited partner at the time of bringing the action and either

a. Have been a limited partner at the time of the transaction of which he complains; or

b. Have had the status as a limited partner 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.

N.J.S. § 42:2A-63

L.1983, c.489, s.62; amended 1988, c.130, s.32.