17-76,131. Proper plaintiff.

17-76,131

Chapter 17.--CORPORATIONS
Article 76.--LIMITED LIABILITY COMPANIES

      17-76,131.   Proper plaintiff. In a derivative action, the plaintiff must be a member at the time of bringing the action and:

      (a)   At the time of the transaction of which the member complains; or

      (b)   the member's status as a member had devolved upon the member by operation of law or pursuant to the terms of an operating agreement from a person who was a member at the time of the transaction.

      History:   L. 1999, ch. 119, § 70; Jan. 1, 2000.