{"data":{"id":"us-vt/11c-v.s.a.-1301","jurisdiction":"us-vt","citation":"11C V.S.A. § 1301","heading":"Derivative action","body":"A member may maintain a derivative action to enforce a right of a mutual benefit enterprise if:\n(1) the member demands that the enterprise bring an action to enforce the right; and\n(2) any of the following occur:\n(A) the enterprise does not, within 90 days after the member makes the demand, agree to bring the action;\n(B) the enterprise notifies the member that it has rejected the demand;\n(C) irreparable harm to the enterprise would result by waiting 90 days after the member makes the demand; or\n(D) the enterprise agrees to bring an action demanded and fails to bring the action within a reasonable time.","path":["Title 11C: Mutual Benefit Enterprises","Chapter 013: Action by Member"],"source_url":"https://legislature.vermont.gov/statutes/section/11C/013/01301","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T16:26:57Z","sha256":"667e0905f93d0f9aa71b9d0e57d992e388073a8957bb64ce76bea577d56fbc70","source_id":"us-vt","stale":false,"prev":"us-vt/11c-v.s.a.-1215","next":"us-vt/11c-v.s.a.-1302"},"notice":"GroundRules: Original legal text. Not legal advice."}