The Vermont Statutes Online
The Statutes below include the actions of the 2024 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 11 : Corporations, Partnerships and Associations
Chapter 025 : Limited Liability Companies
Subchapter 009 : ACTIONS BY MEMBERS
(Cite as: 11 V.S.A. § 4133)-
§ 4133. Proper plaintiff
A derivative action under section 4132 of this title may be maintained only by a person that is a member of the company 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 pursuant to the terms of the operating agreement from a person that was a member at the time of the transaction. (Added 2015, No. 17, § 2.)
