Current as of January 01, 2019 | Updated by FindLaw Staff
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(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:
(I) Was a member when the conduct giving rise to the action occurred; or
(II) Whose status as a member devolved upon the person by operation of law or the articles or bylaws 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 plaintiff 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.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 7. Corporations and Associations § 7-58-1302. Proper plaintiff - last updated January 01, 2019 | https://codes.findlaw.com/co/title-7-corporations-and-associations/co-rev-st-sect-7-58-1302.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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