Va. Code » Title 50. Partnerships » Chapter 2.1. Virginia Revised Uniform Limited Partnership Act » Article 10. Derivative Actions
Virginia Code

Va. Code Ann. § 50-73.62 (2026)

Right of action

✓ current as of May 2026
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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.

1985, c. 607.

Notes of Decisions
Cited in 5 cases, 1994–2008 · leading case: Jennings v. Kay Jennings Fam. Ltd., 659 S.E.2d 283 (Va. 2008).
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Jennings v. Kay Jennings Fam. Ltd., 659 S.E.2d 283 (Va. 2008). · cites it 10× “In this appeal we consider whether the trial court erred in dismissing Michael Jennings' derivative suit because Michael, a limited partner in the Kay Jennings Family Limited Partnership, did not "fairly and adequately represent the interests" of the limited partners and the…”
Little v. Cooke, 652 S.E.2d 129 (Va. 2007). · cites it 4× “Some of the Partnership's limited partners filed a derivative suit on behalf of the Partnership pursuant to Code § 50-73.62 and sought monetary damages against George B.”
McCall v. Telerent Leasing Corp. (In Re BICC Ltd. P'ship), 392 B.R. 209 (Bankr. E.D. Va. 2008). · cites it 5× “Their argument is supported by Va.Code §§ 50-73.62 to 50-73.64. These provisions of the Revised Uniform Limited Partnership Act as adopted in Virginia prescribe the ability of a limited partner to file an action “in the right of a limited partnership to recover a judgment in its…”
Rogal v. Hughes, 34 Va. Cir. 120 (Fairfax Cir. Ct. 1994). · cites it 6× “62 states, “[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.”
Purcellville Ltd. P'ship v. Treptow, 37 Va. Cir. 602 (Loudoun Cir. Ct. 1994). “It is not an error to join the direct claim against the general partners with those of a derivative nature on behalf of the limited partnership.”
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