Tenn. Code § 61-3-902

Current through Acts 2023-2024, ch. 1069

Section 61-3-902 - 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 the general partners 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 under subdivision (1) would be futile.

T.C.A. § 61-3-902

Added by 2017 Tenn. Acts, ch. 440,s 1, eff. 1/1/2018.