A shareholder shall not commence a derivative proceeding until:
(1) A written demand has been made upon the corporation to take suitable action; and
(2) Ninety days have expired from the date the demand was made unless
(A) The shareholder has earlier been notified that the demand has been rejected by the corporation; or
(B) Irreparable injury to the corporation would result by waiting for the expiration of the 90-day period.
CREDIT(S)
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For history of Law 18-378, see notes under § 29-101.01.
