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Md. Code Ann., Corps. & Ass'ns § 4A-802

Known as the Maryland Limited Liability Company Act

The act spans §§ 4–4 (127 sections).

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.

Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.