A member may commence a derivative action in the right of the limited liability company, or a series thereof, if:
(a) the member first makes a written demand upon the limited liability company or the series, as the case may be, to bring an action to enforce the right and the limited liability company or the series, as the case may be, 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 5A - Alabama Limited Liability Company Law of 2014.
Article 9 - Actions by Members.
Section 10A-5A-9.01 - Direct Action by Members.
Section 10A-5A-9.02 - Right of Derivative Action.
Section 10A-5A-9.03 - Standing.
Section 10A-5A-9.05 - Pleading.
Section 10A-5A-9.06 - Stay of Proceedings.
Section 10A-5A-9.07 - Discontinuance or Settlement.
Section 10A-5A-9.08 - Proceeds and Expenses.
Section 10A-5A-9.09 - Applicability to Foreign Limited Liability Companies.