11C V.S.A. § 1301: Derivative action

A member may maintain a derivative action to enforce a right of a mutual benefit enterprise if:

(1) the member demands that the enterprise bring an action to enforce the right; and

(2) any of the following occur:

(A) the enterprise does not, within 90 days after the member makes the demand, agree to bring the action;

(B) the enterprise notifies the member that it has rejected the demand;

(C) irreparable harm to the enterprise would result by waiting 90 days after the member makes the demand; or

(D) the enterprise agrees to bring an action demanded and fails to bring the action within a reasonable time.