Wisconsin Statutes 183.0803 – Proper plaintiff
Current as of: 2023 | Check for updates
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A derivative action to enforce a right of a limited liability company may be maintained only by a person that is a member at the time the action is commenced and to which any of the following applies:
Terms Used In Wisconsin Statutes 183.0803
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
(1) The person was a member when the conduct giving rise to the action occurred.
(2) The person’s 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 conduct.