Alabama § 10A-5A-9.03 Standing

Alabama Statutes

§ 10A-5A-9.03 — Standing

Alabama § 10A-5A-9.03

Title 10AAlabama Business and Nonprofit Entities Code

Ch. 5AAlabama Limited Liability Company Law of 2014

Art. 9Actions by Members

This text of Alabama § 10A-5A-9.03 (Standing) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 10A-5A-9.03 (2026).

Text

(a)A member may commence or maintain a derivative action in the right of the limited liability company only if the member:

(1)fairly and adequately represents the interests of the limited liability company in enforcing the right of the limited liability company; and

(2)either:

(A)was a member of the limited liability company at the time of the act or omission of which the member complains; or

(B)whose status as a member devolved upon the person by operation of law or pursuant to the terms of the limited liability company agreement from a person who was a member at the time of the act or omission of which the member complains.

(b)A member associated with a series of a limited liability company may commence or maintain a derivative action in the right of the series only if the member:

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(a) A member may commence or maintain a derivative action in the right of the limited liability company only if the member:
(1) fairly and adequately represents the interests of the limited liability company in enforcing the right of the limited liability company; and
(2) either:
(A) was a member of the limited liability company at the time of the act or omission of which the member complains; or
(B) whose status as a member devolved upon the person by operation of law or pursuant to the terms of the limited liability company agreement from a person who was a member at the time of the act or omission of which the member complains.
(b) A member associated with a series of a limited liability company may commence or maintain a derivative action in the right of the series only if the member:
(1) fairly and adequately represents the interests of the series in enforcing the right of the series; and
(2) either:
(A) was associated with the series at the time of the act or omission of which the member complains; or
(B) whose status as a member associated with the series devolved upon the person by operation of law or pursuant to the terms of the limited liability company agreement from a person who was a member associated with the series at the time of the act or omission of which the member complains.