D.C. Code § 29-1013.01: Derivative action.
Where this section sits in the code
- Title 29. Business Organizations. [Enacted title]
- Chapter 10. Limited Cooperative Associations.
- Subchapter XIII. Action by Member.
A member may maintain a derivative action in the Superior Court to enforce a right of a limited cooperative association if:
(1)
The member demands that the association bring an action to enforce the right; and
(2)
Any of the following occur:
(A)
The association does not, within 90 days after the member makes the demand, agree to bring the action;
(B)
The association notifies the member that it has rejected the demand;
(C)
Irreparable harm to the association would result by waiting 90 days after the member makes the demand;
(D)
The association agrees to bring an action demanded and fails to bring the action within a reasonable time; or
(E)
A demand under paragraph (1) of this subsection would be futile.
Collected 2026-08-29T05:44:07Z. Source file · JSON