Maine § 31 §1422 Derivative action

Maine Statutes

§ 31 §1422 — Derivative action

Maine·Title 31 PARTNERSHIPS AND ASSOCIATIONS·Ch. 19 UNIFORM LIMITED PARTNERSHIP ACT

A partner may maintain a derivative action to enforce a right of a limited partnership if:

1.Demand for limited partnership to enforce. 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.Demand futile. A demand would be futile.

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A partner may maintain a derivative action to enforce a right of a limited partnership if:
1.
Demand for limited partnership to enforce.
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.
Demand futile.
A demand would be futile.

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