2015 Iowa Code
TITLE XII - BUSINESS ENTITIES
SUBTITLE 2 - BUSINESS AND PROFESSIONAL CORPORATIONS AND COMPANIES
CHAPTER 489 - REVISED UNIFORM LIMITED LIABILITY COMPANY ACT
Section 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.
2008 Acts, ch 1162, §68,155
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