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Searching 2023-2024 Session

The Vermont Statutes Online

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

NOTE: The online version of the Vermont Statutes does NOT yet include the actions of the 2023 legislative session. The 2023 updates should be available by the end of October.

Title 11 : Corporations, Partnerships and Associations


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.)