The RULPA recognizes the right of a limited partner to bring an action on the behalf of a limited partnership to recover a judgment in its favor if the general partners having authority to do so have refused to bring the action.

Question

Quizplus · Accepted Answer

This is known as a derivative action and is recognized under the RULPA (Revised Uniform Limited Partnership Act). The limited partner must first make a demand on the general partners to bring the action, and if they refuse or fail to act within a reasonable time, the limited partner may then bring the action on behalf of the partnership.

The RULPA Recognizes the Right of a Limited Partner to Bring