Wyoming § 17-29-902 Derivative action

Wyoming Statutes

§ 17-29-902 — Derivative action

Wyoming·Title 17 Corporations, Partnerships and Associations·Ch. 29 WYOMING LIMITED LIABILITY COMPANY ACT·Art. 9 ACTIONS BY MEMBERS

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

(i)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

(ii)A demand under paragraph (i) of this subsection would be futile.

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(a) A member may maintain a derivative action to enforce a
right of a limited liability company if:
(i) 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
(ii) A demand under paragraph (i) of this subsection
would be futile.

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