Ark. Code Ann. § 4-38-802: Derivative action
Where this section sits in the code
- AR Code
- Title 4
- Chapter 38
- Subchapter 8
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 limited liability company, or the managers of a manager-managed limited liability company, requesting that they cause the company to bring an action to enforce the right, and the managers or other members do not bring the action within a reasonable time; or
(2) a demand under paragraph (1) would be futile.
Collected 2026-09-14T18:32:41Z. Source file · JSON