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Source Prenuptial Agreements Complete Family Law for MPT List Showing the closest available flashcard practice.

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A shareholder wants to file a derivative suit on behalf of a corporation governed by an MBCA-style demand statute.
Which statement best describes the demand requirement?

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A shareholder may always file a derivative suit without contacting the corporation. Demand is made on the corporation's largest customer rather than the corporation. Demand is satisfied by posting criticism of the board on social media. Under MBCA-style rules, a shareholder generally must make written demand and wait 90 days unless the demand is rejected earlier or waiting would cause irreparable injury to the corporation.

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