§18-441-1302. Proper plaintiff.

141 words·~1 min read·/ok/title-18-corporations/18-441-1302·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

PROPER PLAINTIFF.

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

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

(A)was a member when the conduct giving rise to the

action occurred; or

(B)whose status as a member devolved upon the person by

operation of law or the organic rules from a person

that was a member at the time of the conduct; and

(2)Adequately represents the interests of the association.

(b)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

(a)of this section to be substituted as plaintiff. Added by Laws 2009, c. 68, § 118, eff. Jan. 1, 2010.