{"data":{"id":"us-co/c.r.s.-7-80-714","jurisdiction":"us-co","citation":"C.R.S. § 7-80-714","heading":"Derivative proceeding - demand.","body":"(1) No member shall commence a derivative proceeding pursuant to this part 7 unless:\n\n(a) A written demand has been made upon the limited liability company to take suitable action; and\n\n(b) Thirty days have expired from the date the demand was made; except that the thirty-day limitation shall not be required where:\n\n(I) The member has been notified prior to the expiration of the thirty-day period that the demand has been rejected by the limited liability company; or\n\n(II) Irreparable injury to the limited liability company would result from waiting for the expiration of the thirty-day period.","path":["Title 7 - CORPORATIONS AND ASSOCIATIONS","Article 80 - Limited Liability Companies","Part 7 - MEMBERS"],"source_url":"https://olls.info/crs/crs2026-title-07.htm","current_through":"Colorado Revised Statutes 2026","vintage":"","retrieved_at":"2026-09-14T18:37:45Z","sha256":"363ffc58e4e486f3a4885f4c159f2ea90b6ca9852ea9596731371272f49ec3c3","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-7-80-713","next":"us-co/c.r.s.-7-80-715"},"notice":"GroundRules: Original legal text. Not legal advice."}