Utah Code § 16-16-1301
Derivative action
Utah · Utah Code Title 16 — Business Entities · Status: effective
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- Citation
- Utah Code § 16-16-1301, Derivative action, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2328405
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Full text
A member may maintain a derivative action to enforce a right of a limited cooperative association if:
(1) the member demands that the association bring an action to enforce the right; and
(2) any of the following occur:
(a) the association does not, not later than 90 days after the member makes the demand, agree to bring the action;
(b) the association notifies the member that it has rejected the demand;
(c) irreparable harm to the association would result by waiting 90 days after the member makes the demand; or
(d) the association agrees to bring an action demanded and fails to bring the action within a reasonable time.