Haw. Rev. Stat. § 428-1102

Current through the 2024 Legislative Session

Section 428-1102 - Proper plaintiff

In a derivative action for a limited liability company, the plaintiff shall be a member of the company when the action is commenced, and:

(1) Shall have been a member at the time of the transaction of which the plaintiff complains; or

(2) The plaintiff's status as a member shall have devolved upon the plaintiff by operation of law or pursuant to the terms of the operating agreement from a person who was a member at the time of the transaction.

HRS § 428-1102

L 1996, c 92, pt of §1