Requirements for plaintiff.
O.C.G.A. § 14-9-1002
in effect14-9-1002. Requirements for plaintiff.
(1) Except to the extent provided by the partnership agreement, in a derivative action, the plaintiff must be a limited partner at the time of bringing the action and:
(A) Must have been a partner at the time of the transaction of which he or she complains; or
(B) His or her status as a partner shall have devolved upon him or her by operation of law or pursuant to the terms of the partnership agreement from a person who was a partner at the time of the transaction; and
(2) For a limited partnership with partnership interests listed on a national securities exchange, at the time of the act or omission complained of, the limited partner owns a number of partnership interests sufficient to meet the required ownership threshold to institute a derivative action in the right of the limited partnership identified in the limited partnership's governing agreement, provided that the required ownership threshold established by the governing agreement does not exceed 1 percent of the outstanding partnership interests of the limited partnership.
(Code 1981, § 14-9-1002, enacted by Ga. L. 1988, p. 1016, § 1.) (Amended by Ga. L. 2026, Act 460 (HB 1185), eff. July 1, 2026.)
Source: Official Code of Georgia (Legislative Counsel's copy via Public.Resource.Org) + acts (legis.ga.gov)URL: https://www.legis.ga.gov/api/legislation/document/20252026/248645Fetched: 10/24/2026