A member may not commence a proceeding in the name of a domestic cooperative, unless the member was a member of the cooperative when the transaction complained of occurred, or unless the member becomes a member through transfer by operation of law from one who was a member at that time.
Tenn. Code Ann. § 43-38-701
Derivative actions
Known as the Tennessee Processing Cooperative Law
The act spans §§ 43-38-1001 to 43-38-904 (150 sections).
Acts 2004, ch. 534, § 26.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.