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N.J. Stat. Ann. § 42:2A-63

Proper plaintiff

Known as the Uniform Partnership Act

The act spans §§ 42:1A-1 to 42:6-9 (286 sections).

L. 1983, c. 489, s. 62; amended 1988,c.130,s.32.

Proper plaintiff. In order to bring a derivative action, the limited partner shall be a limited partner at the time of bringing the action and either

a. Have been a limited partner at the time of the transaction of which he complains; or

b. Have had the status as a limited partner devolved upon him by operation of law or pursuant to the terms of the partnership agreement from a person who was a partner at the time of the transaction.

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.