GroundRules
18 GCA § 171302: Derivative Action.
Where this section sits in the code
- Title 18: Business Structure and Function
- Division 1 - Business Structure
- Part 2 - Special Corporate Forms
- Chapter 17: Guam Uniform Limited Cooperative Association Act
- ARTICLE 13: ACTIONS BY MEMBERS
(a) A member may maintain a derivative action to enforce a right of a limited cooperative association if:
(1) the member first makes a demand on the directors requesting that they cause the association to bring an action to enforce the right and the directors do not bring the action within a reasonable time; or
(2) a demand under paragraph (1) of this Section would be futile.
Collected 2026-09-27T03:54:38Z. Source file · JSON