A stockholder may commence a derivative action in the right of the corporation, if:

(a) the stockholder first makes a written demand upon the corporation requesting that it bring an action to enforce the right and the corporation does not bring the action within a reasonable time; or

Terms Used In Alabama Code 10A-2A-7.43

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) a demand under subsection (a) would be futile.
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