Tenn. Code § 61-3-903

Current through Acts 2023-2024, ch. 1069

Section 61-3-903 - Proper plaintiff

A derivative action to enforce a right of a limited partnership may be maintained only by a person that:

(1) Is a partner at the time the action is commenced; and

(2) Either:

(A) Was a partner when the conduct giving rise to the action occurred; or

(B) Whose status as a partner devolved on the person by operation of law or pursuant to the terms of the partnership agreement from a person that was a partner at the time of the conduct.

T.C.A. § 61-3-903

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