A stockholder may commence a derivative action in the right of the corporation, if:
(a) the stockholder first makes a written demand upon the corporation requesting that it bring an action to enforce the right and the corporation does not bring the action within a reasonable time; or
(b) a demand under subsection (a) would be futile.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 2A - Alabama Business Corporation Law.
Division D - Derivative Proceedings.
Section 10A-2A-7.40 - Division Definitions.
Section 10A-2A-7.41 - Right of Derivative Action.
Section 10A-2A-7.42 - Standing.
Section 10A-2A-7.44 - Pleading.
Section 10A-2A-7.45 - Stay of Proceedings.
Section 10A-2A-7.46 - Discontinuance or Settlement.
Section 10A-2A-7.47 - Proceeds and Expenses.
Section 10A-2A-7.48 - Applicability to Foreign Corporations.