Derivative action

A member may maintain a derivative action in the Superior Court to enforce a right of a limited cooperative association if: (1) The member demands that the association bring an action to enforce the right; and (2) Any of the following occur: (A) The association does not, within 90 days after the member makes the demand, agree to bring the action; (B) The association notifies the member that it has rejected the demand; (C) Irreparable harm to the association would result by waiting 90 days after the member makes the demand; (D) The association agrees to bring an action demanded and fails to bring the action within a reasonable time; or (E) A demand under paragraph (1) of this subsection would be futile.