Minn. Stat. § 322C.0902: DERIVATIVE ACTION.
Where this section sits in the code
- BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS
- CHAPTER 322C. MINNESOTA REVISED UNIFORM LIMITED LIABILITY COMPANY
- ACTIONS BY MEMBERS
A member may maintain a derivative action to enforce a right of a limited liability company if:
(1) the member first makes a demand on the other members in a member-managed limited liability company, the managers of a manager-managed limited liability company, or the board of governors of a board-managed limited liability company requesting that they cause the company to bring an action to enforce the right, and the member, manager, or board does not bring the action within a reasonable time; or
(2) a demand under clause (1) would be futile.
Collected 2026-09-02T22:10:42Z. Source file · JSON