Connecticut § 34-271b Derivative action. Proper plaintiff.

Connecticut Statutes

§ 34-271b — Derivative action. Proper plaintiff.

Connecticut·Title 34 Limited Partnerships, Partnerships, Professional Associations, Limited Liability Companies and Statutory Trusts·Ch. 613a Uniform Limited Liability Company Act

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.

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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.

Connecticut § 34-271b (Derivative action. Proper plaintiff.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.