Wis. Stat. § 183.0803

Current through Acts 2023-2024, ch. 272

Section 183.0803 - Proper plaintiff

A derivative action to enforce a right of a limited liability company may be maintained only by a person that is a member at the time the action is commenced and to which any of the following applies:

(1) The person was a member when the conduct giving rise to the action occurred.

(2) The person's status as a member devolved on the person by operation of law or pursuant to the terms of the operating agreement from a person that was a member at the time of the conduct.

Wis. Stat. § 183.0803

Amended by Acts 2021 ch, 258,s 616, eff. 4/17/2022.