[§414-173] Demand.
78 words·~1 min read·
/hi/chapter-414/414-173A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§414-173] Demand. No shareholder may commence a derivative proceeding until:
(1)A written demand has been made upon the corporation to take suitable action; and
(2)Ninety days have expired from the date the demand was made unless the shareholder has earlier been notified that the demand has been rejected by the corporation or unless irreparable injury to the corporation would result by waiting for the expiration of the ninety-day period. [L 2000, c 244, pt of §1]