State Codes and Statutes

Statutes > Iowa > Title-12 > Subtitle-2 > Chapter-489 > 489-903

489.903 PROPER PLAINTIFF. 1. Except as otherwise provided in subsection 2, a derivative action under section 489.902 may be maintained only by a person that is a member at the time the action is commenced and remains a member while the action continues. 2. If the sole plaintiff in a derivative action dies while the action is pending, the court may permit another member of the limited liability company to be substituted as plaintiff.
         Section History: Recent Form
2008 Acts, ch 1162, §68, 155

State Codes and Statutes

Statutes > Iowa > Title-12 > Subtitle-2 > Chapter-489 > 489-903

489.903 PROPER PLAINTIFF. 1. Except as otherwise provided in subsection 2, a derivative action under section 489.902 may be maintained only by a person that is a member at the time the action is commenced and remains a member while the action continues. 2. If the sole plaintiff in a derivative action dies while the action is pending, the court may permit another member of the limited liability company to be substituted as plaintiff.
         Section History: Recent Form
2008 Acts, ch 1162, §68, 155

State Codes and Statutes

State Codes and Statutes

Statutes > Iowa > Title-12 > Subtitle-2 > Chapter-489 > 489-903

489.903 PROPER PLAINTIFF. 1. Except as otherwise provided in subsection 2, a derivative action under section 489.902 may be maintained only by a person that is a member at the time the action is commenced and remains a member while the action continues. 2. If the sole plaintiff in a derivative action dies while the action is pending, the court may permit another member of the limited liability company to be substituted as plaintiff.
         Section History: Recent Form
2008 Acts, ch 1162, §68, 155