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2025 Delaware Code
Title 6 - Commerce and Trade
Chapter 18. LIMITED LIABILITY COMPANY ACT
Subchapter X. Derivative Actions
§ 18-1002. Proper plaintiff.
Universal Citation:
6 DE Code § 18-1002 (2025)
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§ 18-1002. Proper plaintiff. 68 Del. Laws, c. 434, § 1; 70 Del. Laws, c. 186, § 1; 71 Del. Laws, c. 341, § 17;
In a derivative action, the plaintiff must be a member or an assignee of a limited liability company interest at the time of bringing the action and:
(1) At the time of the transaction of which the plaintiff complains; or
(2) The plaintiff's status as a member or an assignee of a limited liability company interest had devolved upon the plaintiff by operation of law or pursuant to the terms of a limited liability company agreement from a person who was a member or an assignee of a limited liability company interest at the time of the transaction.
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