Arizona Laws 29-357. Proper plaintiff
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In a derivative action, the plaintiff shall be a partner at the time of bringing the action and:
Terms Used In Arizona Laws 29-357
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Partner: means a limited or general partner. See Arizona Laws 29-301
- 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.
- Person: means a natural person, partnership, domestic or foreign limited partnership, trust, estate, association, corporation or entity. See Arizona Laws 29-301
- Plaintiff: The person who files the complaint in a civil lawsuit.
1. Shall have been a partner at the time of the transaction of which he complains; or
2. His status as a partner shall have 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.