42:2B-61 - Derivative actions - New Jersey Statutes

42:2B-61.    Derivative actions 
    61.  In a derivative action, the plaintiff must be a member at the time of bringing the action and: 

   a.   At the time of the transaction of which he complains; or 

   b.   His status as a member had devolved upon him by operation of law or pursuant to the terms of an operating agreement from a person who was a member at the time of the transaction. 

   L.1993,c.210,s.61.