Right of action. A limited partner may bring an action in the right of a limited partnership to recover a judgment in its favor against one or more general partners, former general partners, limited partners, or third parties, 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.J. Stat. Ann. § 42:2A-62
Right of action
Known as the Uniform Partnership Act
The act spans §§ 42:1A-1 to 42:6-9 (286 sections).
L. 1983, c. 489, s. 61; amended 1988,c.130,s.31.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.