N.D. Cent. Code § 10-32.1-34

Current through 2024 Legislative Session

Section 10-32.1-34 - Derivative action

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.

N.D.C.C. § 10-32.1-34

Added by S.L. 2015, ch. 87 (HB 1136),§ 19, eff. 7/1/2015.