State Codes and Statutes
Statutes > New-jersey > Title-42 > Section-42-2a > 42-2a-6342:2A-63. Proper plaintiff
Proper plaintiff. In order to bring a derivative action, the limited partner shall be a limited partner at the time of bringing the action and either
a. Have been a limited partner at the time of the transaction of which he complains; or
b. Have had the status as a limited partner 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.
L. 1983, c. 489, s. 62; amended 1988,c.130,s.32.
