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New Jersey Statutes, Title: 42, PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS

    Chapter 2c: Revised Uniform Limited Liability Company Act

      Section: 42:2c-69: Proper plaintiff.

          
69. Proper Plaintiff.

a. Except as otherwise provided in subsection b. of this section, a derivative action under section 68 of this act may be maintained only by a person that is a member at the time the action is commenced and remains a member while the action continues.

b. If the sole plaintiff in a derivative action dies while the action is pending, the court may permit another member of the limited liability company to be substituted as plaintiff.

L.2012, c.50, s.69.

This section added to the Rutgers Database: 2012-10-16 15:26:08.






Older versions of 42:2c-69 (if available):



Court decisions that cite this statute: CLICK HERE.