New Mexico Statutes 54-2A-1003. Proper plaintiff
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A derivative action may be maintained only by a person that is a partner at the time the action is commenced and:
Terms Used In New Mexico Statutes 54-2A-1003
- 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.
A. that was a partner when the conduct giving rise to the action occurred; or
B. whose status as a partner devolved upon the person by operation of law or pursuant to the terms of the partnership agreement from a person that was a partner at the time of the conduct.