☰ Revisor of Missouri

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 347

< > Effective - 01 Dec 1993, see footnote bottom

  347.171.  Action by member, conditions. — A member may bring an action in the right of the limited liability company to recover a judgment in its favor if all of the following conditions are met:

  (1)  The plaintiff does not have the authority under the provisions of the operating agreement to cause the limited liability company to sue in its own right;

  (2)  The plaintiff has made demand on the authorized person or persons having the authority to cause the limited liability company to institute such action requesting that such persons cause the limited liability company to sue in its own right;

  (3)  The persons with such authority have refused to bring the action or, after adequate time to consider the demand, have failed to respond to such demand; and

  (4)  The plaintiff is a member of the limited liability company at the time of bringing the action, and was a member of the limited liability company at the time of the transaction of which he complains, or his status as a member of the limited liability company thereafter devolved upon him by operation of law or pursuant to the terms of the operating agreement from a person who was a member at such time.

­­--------

(L. 1993 S.B. 66 & 20 § 359.816)

Effective 12-01-93


---- end of effective  01 Dec 1993 ----

use this link to bookmark section  347.171


Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House