Sec. 32.11.490. Derivative action authorized.
A limited partner may bring an action in the right of a limited partnership to recover a judgment in its favor 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.
Sec. 32.11.500. Proper plaintiff.
In a derivative action, the plaintiff must be a partner at the time of bringing the action and (1) must have been a partner at the time of the transaction of which the plaintiff complains; or (2) the plaintiff’s status as a partner must have devolved upon the plaintiff by operation of law or under […]
Sec. 32.11.510. Pleading.
In a derivative action, the complaint must set out with particularity the effort of the plaintiff to secure initiation of the action by a general partner or the reasons for not making the effort.
Sec. 32.11.520. Recoveries.
If a derivative action is successful, in whole or in part, or if anything is received by the plaintiff as a result of a judgment, compromise, or settlement of an action or claim, and if the plaintiff is awarded attorney fees or costs, the court shall direct the plaintiff to remit to the limited partnership […]