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2021 Maine Revised Statutes
TITLE 31: PARTNERSHIPS AND ASSOCIATIONS
Chapter 19: UNIFORM LIMITED PARTNERSHIP ACT
Subchapter 10: ACTIONS BY PARTNERS
31 §1422. Derivative action
Universal Citation:
31 ME Rev Stat § 1422 (2021)
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§1422. Derivative action
A partner may maintain a derivative action to enforce a right of a limited partnership if: [PL 2005, c. 543, Pt. C, §2 (NEW).]
1. Demand for limited partnership to enforce. The partner first makes a demand on the general partners, requesting that they cause the limited partnership to bring an action to enforce the right, and the general partners do not bring the action within a reasonable time; or
[PL 2005, c. 543, Pt. C, §2 (NEW).]
2. Demand futile. A demand would be futile.
[PL 2005, c. 543, Pt. C, §2 (NEW).]
SECTION HISTORY
PL 2005, c. 543, §C2 (NEW).
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