Vermont § 4132 - Derivative action A member may maintain a derivative
Full text of Vermont Vermont Statutes Online § 4132 — Derivative action A member may maintain a derivative, with citation guidance and answers to common questions.
§ 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.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 4132
What does Vermont Statutes Online § 4132 cover?
Section 4132 ("Derivative action A member may maintain a derivative") 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 § 4132?
A common citation format is "Vermont Statutes Online § 4132" (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 § 4132 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.