Proper plaintiff 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: (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 transaction. (Added 2015, No. 17, § 2.)
Vermont Legal Code