N.D. Cent. Code § 10-32.1-34: Derivative action
Where this section sits in the code
- Title 10 Corporations
- Chapter 10-32.1 Uniform Limited Liability Company Act
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 or board-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 subsection 1 would be futile.
Collected 2026-09-02T21:04:14Z. Source file · JSON