Wisconsin Statutes 179.0902 – 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 any of the following applies:
Terms Used In Wisconsin Statutes 179.0902
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- 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.
(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.
(2) A demand under sub. (1) would be futile.