Wis. Stat. § 183.0802

Current through Acts 2023-2024, ch. 272

Section 183.0802 - Derivative action

A member may maintain a derivative action to enforce a right of a limited liability company if any of the following applies:

(1) The member first makes a demand on the other members of a member-managed limited liability company, or the managers of a manager-managed limited liability company, requesting that they cause the limited liability company to bring an action to enforce the right, and the managers or other members do not bring the action within a reasonable time.

(2) A demand under sub. (1) would be futile.

Wis. Stat. § 183.0802

Amended by Acts 2021 ch, 258,s 616, eff. 4/17/2022.

1993 a. 112; 1995 a. 400; 1997 a. 27; 2001 a. 44.