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New Jersey Statutes, Title: 42, PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Chapter 2c: Revised Uniform Limited Liability Company Act
Section: 42:2c-68: Derivative action.
68. Derivative Action. A member may maintain a derivative action to enforce a right of a limited liability company if:
a. the member first makes a demand on the other members in a member-managed limited liability company, or the managers of a manager-managed limited liability company, requesting that they cause the company to bring an action to enforce the right, and the managers or other members do not bring the action within a reasonable time; or
b. A demand under subsection a. of this section would be futile.
L.2012, c.50, s.68.
This section added to the Rutgers Database: 2012-10-16 15:26:07.
Older versions of 42:2c-68 (if available):
Court decisions that cite this statute:
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