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Code · Hawaii · Chapter 428

[§428-1102] Proper plaintiff.

91 words·~1 min read·/hi/chapter-428/428-1102

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[§428-1102] Proper plaintiff. In a derivative action for a limited liability company, the plaintiff shall be a member of the company when the action is commenced, and:
(1)Shall have been a member at the time of the transaction of which the plaintiff complains; or
(2)The plaintiff's status as a member shall have devolved upon the plaintiff by operation of law or pursuant to the terms of the operating agreement from a person who was a member at the time of the transaction. [L 1996, c 92, pt of §1]
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