§ 29-305.52Title 29
Demand.
A shareholder shall not commence a derivative proceeding until: A written demand has been made upon the corporation to take suitable action; and Ninety days have expired from the date the delivery of the demand was made unless The shareholder has earlier been notified that the demand has been rejected by the corporation; or Irreparable injury to the corporation would result by waiting for the expiration of the 90-day period.
Annotations
July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720 Mar. 5, 2013, D.C. Law 19-210, § 2(c)(15), 59 DCR 13171 Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012. The 2013 amendment by D.C. Law 19-210 substituted “the delivery of the demand” for “the demand” in (2).
Sourced from the DC Council Open Law Library (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.