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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>54578</law_id><section_number>50-73.62</section_number><catch_line>Right of action</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="50">Partnerships</unit><unit label="chapter" level="2" order_by="1" identifier="2.1">Virginia Revised Uniform Limited Partnership Act</unit><unit label="article" level="3" order_by="1" identifier="10">Derivative Actions</unit></structure><text>
						<section><p>A <span class="dictionary">limited partner</span> may bring an action in the right of a <span class="dictionary">limited partnership</span> to recover a <span class="dictionary">judgment</span> 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 (&#xA7;&#xA0;<a class="law" title="Short title" href="/13.1-601/">13.1-601</a> et seq.) of Title 13.1. Such action may be brought if <span class="dictionary">general partners</span> with authority to do so have refused to bring the action or if an effort to cause those <span class="dictionary">general partners</span> to bring the action is not likely to succeed. The derivative action may not be maintained if it appears that the <span class="dictionary">plaintiff</span> does not fairly and adequately represent the interests of the <span class="dictionary">limited partners</span> and the partnership in enforcing the right of the partnership.</p></section></text><history>1985, c. 607.</history><metadata></metadata></law>
