Kentucky Statutes 362.2-932 – Derivative action
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A partner may bring a derivative action to enforce a right of a limited partnership if the partner first makes a demand on the general partners, requesting that they cause the limited partnership to bring an action to enforce the right, and the general partners do not bring the action within a reasonable time.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 149, sec. 172, effective July 12, 2006.
Formerly codified as KRS § 362.2-1002.
Effective: July 12, 2006
Terms Used In Kentucky Statutes 362.2-932
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Partner: means a limited partner or general partner. See Kentucky Statutes 362.2-102
- 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.
- Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010
History: Created 2006 Ky. Acts ch. 149, sec. 172, effective July 12, 2006.
Formerly codified as KRS § 362.2-1002.