Ala. Code § 10A-5A-9.04

Current through the 2024 Regular Session.

Section 10A-5A-9.04 - Demand

A member may commence a derivative action in the right of the limited liability company, or a series thereof, if:

(a) the member first makes a written demand upon the limited liability company or the series, as the case may be, to bring an action to enforce the right and the limited liability company or the series, as the case may be, does not bring the action within a reasonable time; or

(b) a demand under subsection (a) would be futile.

Ala. Code § 10A-5A-9.04 (1975)

Added by Act 2014-144,§ 1, eff. 1/1/2015.