2023 Wisconsin Statutes 183.0803 – Proper plaintiff
Current as of: 2023 | Check for updates
|
Other versions
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:
(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.