Home Table of Contents

§ 10-1001. Right of action

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 10. Limited Partnership Act (Refs & Annos)
Subtitle 10. Derivative Actions
MD Code, Corporations and Associations, § 10-1001
§ 10-1001. Right of action
A limited partner may bring a derivative action to enforce a right of a limited partnership to recover a judgment in its favor to the same extent that a stockholder may bring an action for a derivative suit under the corporation law of Maryland. Such an action may be brought if general partners with authority to do so have refused to bring the action or if an effort to cause those general partners to bring the action is not likely to succeed. The derivative action may not be maintained if it appears that the plaintiff does not fairly and adequately represent the interests of the limited partners in enforcing the right of the limited partnership.

Credits

Added by Acts 1981, c. 801, § 2. Amended by Acts 1997, c. 654, § 2, eff. July 1, 1998.
MD Code, Corporations and Associations, § 10-1001, MD CORP & ASSNS § 10-1001
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document