42:2A-63 - Proper plaintiff - New Jersey Statutes

42:2A-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.