Derivative action.

  1. Law
  2. Utah Code
  3. Corporations
  4. Uniform Limited Cooperative Association Act
  5. Action by Member
  6. Derivative action.

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  • (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.




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