Section 54-2A-1002 - Derivative action.

NM Stat § 54-2A-1002 (2019) (N/A)
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A partner may maintain a derivative action to enforce a right of a limited partnership if:

A. 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

B. a demand would be futile.

History: Laws 2007, ch. 129, § 1002.

Effective dates. — Laws 2007, ch. 129, § 1208 made the section effective January 1, 2008.