Utah Code Ann. § 16-20-803 – Proper plaintiff. | Midpage
§ 16-20-803
Utah Code Ann. § 16-20-803
Proper plaintiff.
Effective Oct 1, 2026Renumbered and Amended by Chapter 93, 2026 General Session
Not yet in force — effective Oct 1, 2026
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:
(1) was a member when the conduct giving rise to the action occurred; or
(2) whose status as a member devolved on the person by operation of law or in accordance with the terms of the operating agreement from a person that was a member at the time of the conduct.
Renumbered and Amended by Chapter 93, 2026 General Session