Current through the 2024 Regular Session
Section 25.15.391 - Proper plaintiffIn a derivative action, the plaintiff must be a member at the time of bringing the action and:
(1) At the time of the transaction of which the plaintiff complains; or(2) The plaintiff's status as a member had devolved upon the person by operation of law or pursuant to the terms of a limited liability company agreement from a person who was a member at the time of the transaction.Added by 2015 c 188,§ 76, eff. 1/1/2016.