New Jersey § 42:2C-68 Derivative action.

New Jersey Statutes

§ 42:2C-68 — Derivative action.

New Jersey § 42:2C-68

Title 42PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS

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Bluebook

N.J. Stat. Ann. § 42:2C-68 (2026).

Text

68.Derivative Action. A member may maintain a derivative action to enforce a right of a limited liability company if: a. 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 b. A demand under subsection a. of this section would be futile. L.2012, c.50, s.68.

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68. Derivative Action. A member may maintain a derivative action to enforce a right of a limited liability company if: a. 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 b. A demand under subsection a. of this section would be futile. L.2012, c.50, s.68.