North Dakota Code 45-10.2-90 – (1002) Derivative action
Current as of: 2023 | Check for updates
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A partner may maintain a derivative action to enforce a right of a limited partnership if:
Terms Used In North Dakota Code 45-10.2-90
- 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.
- Partnership: includes a limited liability partnership registered under chapter 45-22. See North Dakota Code 1-01-49
1. 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
2. A demand would be futile.