A derivative action to enforce a right of a limited liability company may be maintained only by a person that is a member at the time the action is commenced and:(1) was a member when the conduct giving rise to the action occurred; or(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 conduct.Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.
Arkansas Legal Code