The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
009
:
ACTIONS BY MEMBERS
(Cite as: 11 V.S.A. § 4132)
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§ 4132. Derivative action
A member may maintain a derivative action to enforce a right of a limited liability
company if:
(1) the member first makes a demand on the other members in a member-managed limited liability
company, or the managers of a manager-managed limited liability company, requesting
that they cause the company to bring an action to enforce the right, and the other
members or the managers do not bring the action within a reasonable time; or
(2) a demand under subdivision (1) of this section would be futile. (Added 2015, No. 17, § 2.)