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2021 Kentucky Revised Statutes
Chapter 362 - Partnerships
Subchapter 362.2 - Kentucky Uniform Limited Partnership Act (2006)
362.2-933 Proper plaintiff.

Universal Citation: KY Rev Stat § 362.2-933 (2021)
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362.2-933 Proper plaintiff. (1) (2) A derivative action may be maintained only by a person that is a partner at the time the action is commenced and: (a) That was a partner when the conduct giving rise to action occurred; 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 that was a partner at the time of that conduct. The derivative proceeding shall not be maintained if: (a) It appears that the person commencing the proceeding does not fairly and adequately represent the interests of the partners in enforcing the rights of the limited partnership; or (b) The person commencing the proceeding ceases to be a partner in the limited partnership. Effective:June 29, 2017 History: Amended 2017 Ky. Acts ch. 193, sec. 20, effective June 29, 2017. -Created 2006 Ky. Acts ch. 149, sec. 173, effective July 12, 2006. Formerly codified as KRS 362.2-1003.
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