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Idaho Code § 30-25-802

Derivative action

Known as the Idaho Uniform Limited Liability Company Act

The act spans §§ 30–30 (51 sections).

I.C., § 30-25 -802, as added by 2015, ch. 243, § 50, p. 758.

A member may maintain a derivative action to enforce a right of a limited liability company if:

(1) 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

(2) A demand under subsection (1) of this section would be futile.

Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.