A limited partner may bring an action in the right of a limited partnership to recover a judgment in its favor if general partners with authority to do so have refused to bring the action or if an effort to cause those general partners to bring the action is not likely to succeed.
N.C. Gen. Stat. § 59-1001
Right of action
Known as the Revised Uniform Limited Partnership Act
The act spans §§ 59–59 (83 sections).
Applied in 2 court decisions — leading case Energy Investors Fund, L.P. v. Metric Constructors, Inc. (1999)
Most recently applied in Ray v. Deloitte & Touche, LLP (April 2006)
1985 (Reg
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.