Section 33Part 1 — Exempted Limited Partnership Act
Proceedings
←→ Navigate · Click subsection badges to collapse · Press ? for help
Subject to subsection (3), legal proceedings by or against an exempted limited partnership may be instituted by or against any one or more of the g eneral partners only, and a limited partner shall not be a party to or named in the proceedings.
If the court considers it just and equitable any person or a general partner shall have the right to join in or otherwise institute proceedings against any one or more of the limited partners who may be liable under section 20(1) or to enforce the return of the contribution, if any, required by section 34(1).
A limited partner may bring an action on behalf of an exempted limited partnership if any one or more of the general partners with authority to do so have, without cause, failed or refused to institute proceedings.
If any action taken pursuant to subsection (3) is successful, in whole or in part, as a result of a judgment, compromise or settlemen t of any action, the court may award any limited partner bringing any action reasonable expenses, including attorney ’ s fees, from any recovery in any action or from an exempted limited partnership. Section 34 Exempted Limited Partnership Act (2025 Rev ision)