43-38-701 - Derivative actions. - Tennessee Statutes

43-38-701. Derivative actions.

A member may not commence a proceeding in the name of a domestic cooperative, unless the member was a member of the cooperative when the transaction complained of occurred, or unless the member becomes a member through transfer by operation of law from one who was a member at that time.

[Acts 2004, ch. 534, § 26.]