2019 Kansas Statutes
Chapter 17 - Corporations
Article 76 - Limited Liability Companies
17-76,153 Same; derivative lawsuits.
17-76,153. Same; derivative lawsuits. Members of a statutory public benefit limited liability company or assignees of limited liability company interests in a statutory public benefit limited liability company owning individually or collectively, as of the date of instituting such derivative suit, at least 2% of the then-current percentage or other interest in the profits of the limited liability company or, in the case of a limited liability company with limited liability company interests listed on a national securities exchange, the lesser of such percentage or limited liability company interests of at least $2,000,000 in market value, unless an operating agreement provides for a different percentage or other interest or market value, may maintain a derivative lawsuit to enforce the requirements set forth in K.S.A. 2019 Supp. 17-76,151(a), and amendments thereto.
History: L. 2019, ch. 47, ยง 10; July 1.
