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. (1) was a member when the conduct giving rise to the action occurred; or
2. (2) whose 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.

Renumbered and Amended by Chapter 93, 2026 General Session