Section 321.1002 Derivative Action
321.1002 DERIVATIVE ACTION.
A partner may maintain a derivative action to enforce a right of a limited partnership if:
(1) 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; or
(2) a demand would be futile.
History:
2004 c 199 art 10 s 83