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Wisconsin Statutes Corporations (Ch. 180 to 188) § 183.0802. Derivative action

Current as of January 01, 2022 | Updated by FindLaw Staff

A member may maintain a derivative action to enforce a right of a limited liability company if any of the following applies:

(1) The member first makes a demand on the other members of a member-managed limited liability company, or the managers of a manager-managed limited liability company, requesting that they cause the limited liability company to bring an action to enforce the right, and the managers or other members do not bring the action within a reasonable time.

(2) A demand under sub. (1) would be futile.

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Cite this article: FindLaw.com - Wisconsin Statutes Corporations (Ch. 180 to 188) § 183.0802. Derivative action - last updated January 01, 2022 | https://codes.findlaw.com/wi/corporations-ch-180-to-188/wi-st-183-0802/

Read this complete Wisconsin Statutes Corporations (Ch. 180 to 188) § 183.0802. Derivative action on Westlaw. Westlaw subscription required.

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