§ 115-b. Security for expenses in limited partners' derivative action
brought in the right of the limited partnership to procure a judgment in
its favor. In any action specified in section one hundred fifteen-a of
this article, unless the contributions of or allocable to plaintiff or
plaintiffs to partnership property amount to five percent or more of the
contributions of all limited partners, in their status as limited
partners, or such contributions of or allocable to such plaintiff or
plaintiffs have a fair value in excess of fifty thousand dollars, the
limited partnership in whose right such action is brought shall be
entitled at any stage of the proceedings before final judgment to
require the plaintiff or plaintiffs to give security for the reasonable
expenses, including attorneys' fees, which may be incurred by it in
connection with such action and by the other parties defendant in
connection therewith for which the limited partnership may become liable
under this article under any contract or otherwise under law, to which
the limited partnership shall have recourse in such amount as the court
having jurisdiction of such action shall determine upon the termination
of such action. The amount of such security may thereafter from time to
time be increased or decreased in the discretion of the court having
jurisdiction of such action upon showing that the security provided has
or may become inadequate or excessive.