79-29-1102 - Demand.
§ 79-29-1102. Demand.
No member may commence a derivative proceeding until:
(a) A written demand has been made upon the limited liability company to take suitable action; and
(b) Ninety (90) days have expired from the date the demand was made unless the member has earlier been notified that the demand has been rejected by the limited liability company or unless irreparable injury to the limited liability company would result by waiting for the expiration of the ninety-day period.
Sources: Laws, 1994, ch. 402, § 78, eff from and after July 1, 1994.