In a derivative action, the plaintiff shall be a partner at the time of bringing the action and (i) shall have been a partner at the time of the transaction of which he complains or (ii) his status as a partner shall have 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.
Va. Code Ann. § 50-73.63
Proper plaintiff
Known as the Virginia Revised Uniform Limited Partnership Act
The act spans §§ 50-73.1 to 50-73.9 (105 sections).
Applied in 1 court decision — leading case McCall v. Telerent Leasing Corp. (In Re BICC Ltd. Partnership) (2008)
Most recently applied in McCall v. Telerent Leasing Corp. (In Re BICC Ltd. Partnership) (March 2008)
1985, c. 607; 1987, c. 702.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.