GroundRules
← Search the law
Delaware · Through 2026-08-10 (85 Del. Laws, c. 421, 424) · Newer source version available

6 Del. C. § 18-1206: Derivative suits.

Read at publisher ↗
Where this section sits in the code
  1. Title 6. Commerce and Trade
  2. SUBTITLE II
  3. Other Laws Relating to Commerce and Trade
  4. CHAPTER 18. Limited Liability Company Act
  5. Subchapter XII. Statutory Public Benefit Limited Liability Companies

Members of a statutory public benefit limited liability company or assignees of limited liability company interests in a statutory public benefit limited liability company owning individually or collectively, as of the date of instituting such derivative suit, at least 2% of the then-current percentage or other interest in the profits of the limited liability company or, in the case of a limited liability company with limited liability company interests listed on a national securities exchange, the lesser of such percentage or limited liability company interests of at least $2,000,000 in market value, may maintain a derivative lawsuit to enforce the requirements set forth in § 18-1204(a) of this title.

Collected 2026-09-05T23:02:07Z. Source file · JSON

Browse this collection