UTAH CODE (Last Updated: January 16, 2015) |
Title 48. Partnership |
Chapter 3a. Utah Revised Uniform Limited Liability Company Act |
Part 8. Action by Members |
§ 48-3a-803. Proper plaintiff.
Latest version.
- A derivative action to enforce a right of a limited liability company may be maintained only by a person that is a member at the time the action is commenced and:
(1) was a member when the conduct giving rise to the action occurred; or (2) whose status as a member devolved on the person by operation of law or pursuant to the terms of the operating agreement from a person that was a member at the time of the conduct.
Enacted by Chapter 412, 2013 General Session