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§ 54-2A-1002 NMSA 1978

Derivative action

Known as the Uniform Revised Limited Partnership Act

The act spans §§ 54–54 (104 sections).

Laws 2007, ch. 129, § 1002.

A partner may maintain a derivative action to enforce a right of a limited partnership if:

A. 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

B. a demand would be futile.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.