Kansas § 17-76,131 Proper plaintiff in a derivative action

Kansas Statutes

§ 17-76,131 — Proper plaintiff in a derivative action

Kansas·Ch. 17 CORPORATIONS·Art. 76 LIMITED LIABILITY COMPANIES

In a derivative action, the plaintiff must be a member or an assignee of a limited liability company interest at the time of bringing the action and:

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

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

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In a derivative action, the plaintiff must be a member or an assignee of a limited liability company interest at the time of bringing the action and:
(a) At the time of the transaction of which the plaintiff complains; or
(b) the plaintiff's status as a member or an assignee of a limited liability company interest had devolved upon the plaintiff by operation of law or pursuant to the terms of an operating agreement from a person who was a member or an assignee of a limited liability company interest at the time of the transaction.

Kansas § 17-76,131 (Proper plaintiff in a derivative action) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.