N.J.S.A. 42:2A-63 — Proper plaintiff

42:2A-63. Proper plaintiff Proper plaintiff. In order to bring a derivative action, the limited partner shall be a limited partner at the time of bringing the action and either a. Have been a limited partner at the time of the transaction of which he complains; or b. Have had the status as a limited partner devolved upon him by operation of law or pursuant to the terms of the partnership agreement from a person who was a partner at the time of the transaction. L. 1983, c. 489, s. 62; amended 1988,c.130,s.32.

This is the verbatim text of N.J.S.A. 42:2A-63, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.