Vermont § 1301 - Derivative action A member may maintain a derivative action to enforce a right of a mutual benefit enterprise if:
Full text of Vermont Vermont Statutes Online § 1301 — Derivative action A member may maintain a derivative action to enforce a right of a mutual benefit enterprise if:, with citation guidance and answers to common questions.
§ 1301. Derivative action A member may maintain a derivative action to enforce a right of a mutual benefit enterprise if:
- (1) the member demands that the enterprise bring an action to enforce the right; and (2) any of the following occur: (A) the enterprise does not, within 90 days after the member makes the demand, agree to
bring the action; (B) the enterprise notifies the member that it has rejected the demand; (C) irreparable harm to the enterprise would result by waiting 90 days after the member
makes the demand; or (D) the enterprise agrees to bring an action demanded and fails to bring the action within
a reasonable time. (Added 2011, No. 84 (Adj
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 1301
What does Vermont Statutes Online § 1301 cover?
Section 1301 ("Derivative action A member may maintain a derivative action to enforce a right of a mutual benefit enterprise if:") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 1301?
A common citation format is "Vermont Statutes Online § 1301" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 1301 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.