§ 4133.
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/vt/title-11/chapter-25/4133A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 4133. Proper plaintiff
A derivative action under section 4132 of this title may be maintained only by a person that is a member of the company 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 transaction. (Added 2015, No. 17, § 2.)