Colorado § 7-58-1302 Proper plaintiff

Colorado Statutes

§ 7-58-1302 — Proper plaintiff

Colorado·Title 07 Corporations·Art. Uniform Limited Cooperative Association Act

(1)A derivative action to enforce a right of a limited cooperative association may be maintained only by a person that:

(a)Is a member or a dissociated member at the time the action is commenced and:

(I)Was a member when the conduct giving rise to the action occurred; or

(II)Whose status as a member devolved upon the person by operation of law or the articles or bylaws from a person that was a member at the time of the conduct; and

(b)Adequately represents the interests of the association.

(2)If the sole plaintiff in a derivative action dies while the action is pending, the court may permit another member who meets the requirements of subsection

(1)of this section to be substituted as plaintiff.

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(1) A derivative action to enforce a right of a
limited cooperative association may be maintained only by a person that:

(a) Is a member or a dissociated member at the time the action is
commenced and:

(I) Was a member when the conduct giving rise to the action occurred; or

(II) Whose status as a member devolved upon the person by operation of law
or the articles or bylaws from a person that was a member at the time of the
conduct; and

(b) Adequately represents the interests of the association.

(2) If the sole plaintiff in a derivative action dies while the action is pending,
the court may permit another member who meets the requirements of subsection
(1) of this section to be substituted as plaintiff.

Colorado § 7-58-1302 (Proper plaintiff) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.