N.D. Cent. Code § 10-32.1-34
This is the official text of N.D. Cent. Code § 10-32.1-34, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-32.1-34. Derivative action
Official statutory text
10-32.1-34. Derivative action
A member may maintain a derivative action to enforce a right of a limited liability company if:
1. The member first makes a demand on the other members in a member-managed or
board-managed limited liability company, the managers of a manager-managed limited
liability company, or the board of governors of a board-managed limited liability
company requesting that they cause the company to bring an action to enforce the
right, and the member, manager, or board does not bring the action within a
reasonable time; or
2. A demand under subsection 1 would be futile.
A member may maintain a derivative action to enforce a right of a limited liability company if:
1. The member first makes a demand on the other members in a member-managed or
board-managed limited liability company, the managers of a manager-managed limited
liability company, or the board of governors of a board-managed limited liability
company requesting that they cause the company to bring an action to enforce the
right, and the member, manager, or board does not bring the action within a
reasonable time; or
2. A demand under subsection 1 would be futile.
Status: in_force · Read it on the official government site
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