For the purpose of allowing the limited liability company time to undertake an inquiry into the allegations made in a demand or complaint commenced pursuant to this part 7, the court may stay any derivative proceeding for such period as the court deems appropriate.
Source: L. 2002: Entire section added, p. 1725, § 160, effective October 1.
Structure Colorado Code
Title 7 - Corporations and Associations
Article 80 - Limited Liability Companies
§ 7-80-701. Admission of Members
§ 7-80-702. Interest in Limited Liability Company - Transferability of Interest
§ 7-80-703. Rights of Creditor Against a Member
§ 7-80-705. Liability of Members and Managers
§ 7-80-713. Derivative Proceeding - Standing - Definitions
§ 7-80-714. Derivative Proceeding - Demand
§ 7-80-715. Stay of Derivative Proceeding
§ 7-80-716. Dismissal of Derivative Proceeding
§ 7-80-717. Discontinuance or Settlement of Derivative Proceeding
§ 7-80-718. Payment of Expenses - Derivative Proceeding
§ 7-80-719. Applicability of Derivative Proceeding to Foreign Limited Liability Companies