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2018 Code of Alabama
Title 10A - ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE.
Chapter 9A - ALABAMA LIMITED PARTNERSHIP LAW.
Article 9 - Actions by Partners.
Section 10A-9A-9.03 - Standing.
Universal Citation: AL Code § 10A-9A-9.03 (2018)
Section 10A-9A-9.03Standing.
A partner may commence or maintain a derivative action in the right of the limited partnership only if the partner:
(1) fairly and adequately represents the interests of the limited partnership in enforcing the right of the limited partnership; and
(2) either:
(A) was a partner of the limited partnership at the time of the act or omission of which the partner complains; or
(B) whose status as a partner devolved upon the person 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 act or omission of which the partner complains.
(Act 2016-379, §1.)
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