{"data":{"id":"us-vt/11-v.s.a.-4133","jurisdiction":"us-vt","citation":"11 V.S.A. § 4133","heading":"Proper plaintiff","body":"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:\n(1) was a member when the conduct giving rise to the action occurred; or\n(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.","path":["Title 11: Corporations, Partnerships and Associations","Chapter 025: Limited Liability Companies","Subchapter 009: ACTIONS BY MEMBERS"],"source_url":"https://legislature.vermont.gov/statutes/section/11/025/04133","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T16:01:21Z","sha256":"c9708f77d1279766a0737a3a20bd8b3f83f3614cb76d2ab68358617b15af421e","source_id":"us-vt","stale":false,"prev":"us-vt/11-v.s.a.-4132","next":"us-vt/11-v.s.a.-4134"},"notice":"GroundRules: Original legal text. Not legal advice."}