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District of Columbia Code Division V. Local Business Affairs § 29-411.03. Demand.

Current as of January 01, 2024 | Updated by Findlaw Staff

A person shall not commence a derivative proceeding until:

(1) A demand in the form of a record has been delivered to the nonprofit corporation to take suitable action; and

(2) Ninety days have expired from the date the demand was effective unless:

(A) The person has earlier been notified that the demand has been rejected by the corporation; or

(B) Irreparable injury to the corporation would result by waiting for the expiration of the 90-day period.

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Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 29-411.03. Demand. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-29-411-03/

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