IC 23-16-11
    Chapter 11. Derivative Actions

IC 23-16-11-1
Right of action
    Sec. 1. A limited partner may bring an action in the right of alimited partnership to recover a judgment in favor of the limitedpartnership if:
        (1) general partners with authority to bring such an action haverefused to bring the action; or
        (2) an effort to cause those general partners to bring the actionis not likely to succeed.
As added by P.L.147-1988, SEC.1.

IC 23-16-11-2
Proper plaintiff
    Sec. 2. In a derivative action under this chapter, the plaintiff mustbe a partner at the time of bringing the action, and:
        (1) the plaintiff must have been a partner at the time of thetransaction of which the plaintiff complains in the action; or
        (2) the status of the plaintiff as a partner must have devolvedupon the plaintiff, by operation of law or under the terms of thepartnership agreement, from a person who was a partner at thetime of the transaction.
As added by P.L.147-1988, SEC.1.

IC 23-16-11-3
Pleading
    Sec. 3. In a derivative action under this chapter, the complaintmust set forth with particularity the effort of the plaintiff to secureinitiation of the action by a general partner or the reasons for notmaking the effort to secure initiation of the action by a generalpartner.
As added by P.L.147-1988, SEC.1.

IC 23-16-11-4
Expenses
    Sec. 4. (a) If a derivative action under this chapter is successful,in whole or in part, or if anything is received by the plaintiff as aresult of a judgment, compromise, or settlement of an action orclaim, the court may award the plaintiff reasonable expenses,including reasonable attorney's fees, and shall direct the plaintiff toremit to the limited partnership the remainder of those proceedsreceived by the plaintiff.
    (b) If the plaintiff is awarded damages in an action under thischapter, the court shall make the award of reasonable expensespayable out of the plaintiff's total award and direct the plaintiff toremit the balance of the total award to the limited partnership.However, if the damages awarded to the plaintiff are insufficient toreimburse the plaintiff's reasonable expenses, the court may direct

that part or all of the plaintiff's award of reasonable expenses be paidby the limited partnership.
As added by P.L.147-1988, SEC.1.