CODE OF VIRGINIA

RIGHT OF ACTION (§ 50-73.62)

A limited partner may bring an action in the right of a limited partnership to
recover a judgment in its favor to the same extent that a stockholder may bring
an action for a derivative suit under the Stock Corporation Act, Chapter 9 (§
13.1-601 et seq.) of Title 13.1. Such action may be brought if general partners
with authority to do so have refused to bring the action or if an effort to
cause those general partners to bring the action is not likely to succeed. The
derivative action may not be maintained if it appears that the plaintiff does
not fairly and adequately represent the interests of the limited partners and
the partnership in enforcing the right of the partnership.

HISTORY: 1985, c. 607.