Public-domain · open source
OpenJurist

Me. Rev. Stat. tit. 31, § 1632

Derivative action

PL 2009, c. 629, Pt

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

1. Demand. The member first makes a demand on the limited liability company to take suitable action, and the limited liability company does not take suitable action within a reasonable time; or

2. Futility of demand. A demand under subsection 1 would be futile.

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.