Right of action
Applied in 1 court decision — leading case In Re RUETH DEVELOPMENT COMPANY, an Indiana Limited Partnership (2012)
Most recently applied in In Re RUETH DEVELOPMENT COMPANY, an Indiana Limited Partnership (August 2012)
As added by P.L.147-1988, SEC.1.
Sec. 1. A limited partner may bring an action in the right of a limited partnership to recover a judgment in favor of the limited partnership if:
(1) general partners with authority to bring such an action have refused to bring the action; or
(2) an effort to cause those general partners to bring the action is not likely to succeed.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.