Me. Stat. tit. 31 § 1632

Current through 131st (2023-2024) Legislature Chapter 684

Section 1632 - Derivative action

A member may maintain a derivative action to enforce a right of a limited liability company if: [2009, c. 629, Pt. A, §2(NEW); 2009, c. 629, Pt. A, §3(AFF).]

1.Demand. The member first makes a demand on the limited liability company to take suitable action, and the limited liability company does not take suitable action within a reasonable time; or

[2011, c. 113, Pt. A, §20(AMD).]

2.Futility of demand. A demand under subsection 1 would be futile.

[2009, c. 629, Pt. A, §2(NEW); 2009, c. 629, Pt. A, §3(AFF).]

31 M.R.S. § 1632

Amended by 2011, c. 113,§ A-20, eff. 7/1/2011.

2009, c. 629, Pt. A, §2 (NEW) . 2009, c. 629, Pt. A, §3 (AFF) .