Actions by Partners
Known as the Uniform Limited Partnership Act
The act spans §§ 15900–15912 (125 sections).
Applied in 1 court decision — leading case Azure Dolphin, LLC v. Barton (2018)
Most recently applied in Azure Dolphin, LLC v. Barton (December 2018)
Added by Stats. 2006, Ch. 495, Sec. 20
A partner may bring 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.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.