§ 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