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.
S.C. Code Ann. § 33-42-1810
Right of action
Known as the Uniform Limited Partnership Act
The act spans §§ 33-42-10–33-42-840 (73 sections).
Applied in 1 court decision — leading case Anthony v. Padmar, Inc. (1995)
Most recently applied in Anthony v. Padmar, Inc. (November 1995)
1984 Act No. 491, SECTION 1; 1985 Act No. 11, SECTIONS 3, 4; 1986 Act No. 533, SECTION 1.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.