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District of Columbia · Through 2026-08-20 (D.C. Law 26-175)

D.C. Code § 29-1206.10: Derivative action by beneficial owner.

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Where this section sits in the code
  1. Title 29. Business Organizations. [Enacted title]
  2. Chapter 12. Statutory Trusts.
  3. Subchapter VI. Beneficial Owners.

A beneficial owner may maintain a derivative action to enforce a right of a statutory trust if:

(1)

The beneficial owner first makes a demand on the trustees, requesting that the trustees cause the trust to bring an action to redress the injury or enforce the right, and the trustees do not bring the action within a reasonable time; or

(2)

A demand would be futile.

Collected 2026-08-29T05:44:07Z. Source file · JSON

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