In a derivative action, the plaintiff shall be a member at the time of bringing the action and (i) shall have been a member at the time of the transaction of which he or it complains or (ii) his or its status as a member shall have devolved upon him or it by operation of law or pursuant to the terms of the articles of organization or an operating agreement from a person who was a member at the time of the transaction.
Va. Code Ann. § 13.1-1043
Proper plaintiff
Known as the Virginia Limited Liability Company Act
The act spans §§ 13.1-1000 to 13.1-1099.9 (156 sections).
Applied in 1 court decision — leading case Pathak v. Trivedi (2003)
Most recently applied in Pathak v. Trivedi (November 2003)
1991, c. 168.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.