Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-802
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-802
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Plaintiff: The person who files the complaint in a civil lawsuit.
The plaintiff in a derivative action shall:
(1) Be a member at the time the action is brought; and
(2) (i) Have been a member at the time of the transaction of which the plaintiff complains; or
(ii) Had membership status devolve upon the plaintiff by operation of law from a person who was a member at the time of the transaction.