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Flashcards in Member's Actions Against LLC Deck (3)
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1

What types of actions can be brought by members against an LLC?

1. direct action;
2. derivative action

2

When may a member of an LLC bring a direct action against the LLC?

A member who has been personally injured by LLC can bring a direct action against the LLC

3

When may a member bring a derivative action agains the LLC?

A member can bring a derivative action on behalf of the LLC IF:

-she is a member of LLC at time action is commenced;
-she remains a member of LLC while action continues;
-she makes a demand on the other members/managers; UNLESS demand would be futile