§ 4A-802. Proper plaintiff  


Latest version.



  •    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.


HISTORY: 1992, ch. 536; 2012, chs. 599, 600.