Missouri Laws 359.581 – Proper plaintiff
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In a derivative action, the plaintiff must be a partner at the time of bringing the action and:
(1) At the time of the transaction of which he complains; or
Terms Used In Missouri Laws 359.581
- Partner: a limited or general partner. See Missouri Laws 359.011
- 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: a natural person, partnership, limited partnership (domestic or foreign), domestic or foreign limited liability company, trust, estate, association, or corporation. See Missouri Laws 359.011
- Plaintiff: The person who files the complaint in a civil lawsuit.
(2) His status as a partner had 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.