In a derivative action to enforce a right of a limited cooperative association, the complaint must state:

1. (1) The date and content of the plaintiff’s demand under paragraph (1) of Section 117 of this act and the association’s response;
2. (2) If ninety (90) days have not expired since the demand, how irreparable harm to the association would result by waiting for the expiration of ninety (90) days; and
3. (3) If the association agreed to bring an action demanded, that the action has not been brought within a reasonable time.

Laws 2009, HB 2148, c. 68, § 119, eff. January 1, 2010.