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2020 Iowa Code
Title XII - BUSINESS ENTITIES
Chapter 488 - UNIFORM LIMITED PARTNERSHIP ACT
Section 488.1003 - Proper plaintiff.
Universal Citation: IA Code § 488.1003 (2020)
488.1003 Proper plaintiff.
A derivative action may be maintained only by a person that is a partner at the time the action is commenced and where one of the following also applies:
1. The person was a partner when the conduct giving rise to the action occurred.
2. The person’s status as a partner devolved upon the person by operation of law or pursuant to the terms of the partnership agreement from a person that was a partner at the time of the conduct.
2004 Acts, ch 1021, §86, 118; 2005 Acts, ch 19, §71
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