31 §732. Right to bring action (WHOLE SECTION TEXT EFFECTIVE UNTIL 7/1/11) - Maine Statutes

Title 31: PARTNERSHIPS AND ASSOCIATIONS

Chapter 13: LIMITED LIABILITY COMPANIES

Subchapter 11: SUITS BY AND AGAINST THE LIMITED LIABILITY COMPANY

§732. Right to bring action

(CONTAINS TEXT WITH VARYING EFFECTIVE DATES)

(WHOLE SECTION TEXT EFFECTIVE UNTIL 7/1/11)

A member may bring an action in Superior Court in the right of a limited liability company to recover a judgment in its favor if the managers or, if no managers, the members with authority to do so have refused to bring the action or if an effort to cause those managers or members to bring the action is not likely to succeed. [1993, c. 718, Pt. A, §1 (NEW).]

SECTION HISTORY

1993, c. 718, §A1 (NEW). 2009, c. 629, Pt. A, §1 (RP). 2009, c. 629, Pt. A, §3 (AFF).