KRS 272A.13-010: Derivative actions.

A member may maintain a derivative action 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 ninety (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 ninety (90) days

after the member makes the demand; or

(d) The association agrees to bring an action demanded and fails to bring the

action within a reasonable time.