WEST VIRGINIA CODE
WVC 31 B-
CHAPTER 31B. UNIFORM LIMITED LIABILITY COMPANY ACT.
WVC 31 B- 11 -
ARTICLE 11. DERIVATIVE ACTIONS.
WVC 31 B- 11 -1101
§31B-11-1101. Right of action.
A member of a limited liability company may maintain an action
in the right of the company if the members or managers having
authority to do so have refused to commence the action or an effort
to cause those members or managers to commence the action is not
likely to succeed.
WVC 31 B- 11 -1102
§31B-11-1102. Proper plaintiff.
In a derivative action for a limited liability company, the
plaintiff must be a member of the company when the action is
commenced; and:
(1) Must have been a member at the time of the transaction of
which the plaintiff complains; or
(2) The plaintiff's status as a member must have devolved upon
the plaintiff by operation of law or pursuant to the terms of the
operating agreement from a person who was a member at the time of
the transaction.
WVC 31 B- 11 -1103
§31B-11-1103. Pleading.
In a derivative action for a limited liability company, the
complaint must set forth with particularity the effort of the
plaintiff to secure initiation of the action by a member or manager
or the reasons for not making the effort.
WVC 31 B- 11 -1104
§31B-§31B-11-1104. Expenses.
If a derivative action for a limited liability company is
successful, in whole or in part, or if anything is received by the
plaintiff as a result of a judgment, compromise or settlement of an
action or claim, the court may award the plaintiff reasonable
expenses, including reasonable attorney's fees, and shall direct
the plaintiff to remit to the limited liability company the
remainder of the proceeds received.
Note: WV Code updated with legislation passed through the 2012 1st Special Session
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