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Terms Used In Kansas Statutes 17-76,130

  • Limited liability company interest: means a member's share of the profits and losses of a limited liability company and a member's right to receive distributions of the limited liability company's assets. See Kansas Statutes 17-7663
  • Member: means a person who is admitted to a limited liability company as a member as provided in Kan. See Kansas Statutes 17-7663

A member or an assignee of a limited liability company interest may bring an action in the district court in the right of a limited liability company to recover a judgment in its favor if managers or members with authority to do so have refused to bring the action or if an effort to cause those managers or members to bring the action is not likely to succeed.