10-742. Demand
No shareholder may commence a derivative proceeding until both:
1. A written demand has been made on the corporation to take suitable action.
2. Ninety days have expired from the date the demand was made unless the shareholder has earlier been notified that the demand has been rejected by the corporation or unless the statute of limitations will expire within the ninety days or unless irreparable injury to the corporation would result by waiting for the expiration of the ninety day period.
Section: Previous 10-727 10-728 10-730 10-731 10-732 10-740 10-741 10-742 10-743 10-744 10-745 10-746 10-747 10-801 10-802 NextLast modified: October 13, 2016