Nebraska § 21-165 Derivative action

Nebraska Statutes

§ 21-165 — Derivative action

Nebraska·Ch. 21 Corporations and Other Companies

(RULLCA 902) A member may maintain a derivative action to enforce a right of a limited liability company if:

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

(2)a demand under subdivision (1) of this section would be futile.

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(RULLCA 902) A member may maintain a derivative
action to enforce a right of a limited liability company if:
(1) the member first
makes a demand on the other members in a member-managed limited liability
company, or the managers of a manager-managed limited liability company, requesting
that they cause the company to bring an action to enforce the right, and the
managers or other members do not bring the action within a reasonable time;
or
(2)
a demand under subdivision (1) of this section would be futile.

Nebraska § 21-165 (Derivative action) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 2010, LB888, § 65. Annotations: This section allows for a derivative action if the member of a limited liability company makes a demand upon the manager of the limited liability company to institute the action unless such demand would be futile. Klingelhoefer v. Parker, Grossart, 20 Neb. App. 825, 834 N.W.2d 249 (2013).