Idaho § 30-25-803 PROPER PLAINTIFF

Idaho Statutes

§ 30-25-803 — PROPER PLAINTIFF

Idaho·Title 30 CORPORATIONS·Part 8 ACTIONS BY MEMBERS·Ch. 25 LIMITED LIABILITY COMPANIES

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.

Idaho § 30-25-803 (PROPER PLAINTIFF) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.