272A.13 -020 Proper plaintiff. (1) A derivative action to enforce a right of a limited cooperative association may be maintained only by a person that: (a) Is a member or a dissociated 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 upon the person by operation of law or the organic rules from a person that was a member at the time of the conduct; and (b) Adequately represents the interests of the association. (2) If the sole plaintif f in a derivative action dies while the action is pending, the court may permit another member who meets the requirements of subsection (1) of this section to be substituted as plaintiff. Effective: July 12, 2012 History: Created 2012 Ky. Acts ch. 160, sec . 100, effective July 12, 2012.
Kentucky Legal Code