As used in this part 7, unless the context otherwise requires:

1. (1) Derivative proceeding means a civil suit in the right of a domestic limited liability company or, to the extent provided in section 7-80-719, in the right of a foreign limited liability company.

Source: L. 2025: Entire section added with relocations, (SB 25-275), ch. 377, p. 2033, § 25, effective August 6.

Editor's note: This section is similar to former § 7-80-713 (2) as it existed prior to 2025.