A member may maintain a derivative action in the Superior Court to enforce a right of a limited cooperative association if:
(1) The member demands that the association bring an action to enforce the right; and
(2) Any of the following occur:
(A) The association does not, within 90 days after the member makes the demand, agree to bring the action;
(B) The association notifies the member that it has rejected the demand;
(C) Irreparable harm to the association would result by waiting 90 days after the member makes the demand; or
(D) The association agrees to bring an action demanded and fails to bring the action within a reasonable time.
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.
Uniform Law:
This section is based on § 1301 of the Uniform Limited Cooperative Association Act . See Vol. 6A , Uniform Laws Annotated, Master Edition or ULA Database on Westlaw.