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2017 Code of Alabama
Title 10A - ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE.
Chapter 5A - LIMITED LIABILITY COMPANIES.
Article 9 - Actions by Members.
Section 10A-5A-9.04 - Demand.
Universal Citation:
AL Code § 10A-5A-9.04 (2017)
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Section 10A-5A-9.04Demand.
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.
(Act 2014-144, p. 265, §1.)
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