Indiana Code 23-16-11-2. Proper plaintiff
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Sec. 2. In a derivative action under this chapter, the plaintiff must be a partner at the time of bringing the action, and:
(2) the status of the plaintiff as a partner must have devolved upon the plaintiff, by operation of law or under the terms of the partnership agreement, from a person who was a partner at the time of the transaction.
(1) the plaintiff must have been a partner at the time of the transaction of which the plaintiff complains in the action; or
Terms Used In Indiana Code 23-16-11-2
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Plaintiff: The person who files the complaint in a civil lawsuit.
As added by P.L.147-1988, SEC.1.