§ 43-38-702. Complaint
A complaint in a proceeding brought in the name of a cooperative must allege with particularity the demand made, if any, to obtain action by the board of directors or officers, and either that the demand was refused or ignored, or why the member did not make a demand.
§ 43-38-703. Court Approval Needed to Discontinue or Settle a Proceeding
A proceeding commenced under this part may not be discontinued or settled without the court’s approval. If the court determines that a proposed discontinuance or settlement will substantially affect the interest of the cooperative or a class of members and holders of financial rights, the court shall direct that notice be given the members and […]
§ 43-38-704. Expenses
On termination of the proceeding the court may require the plaintiff to pay the defendant’s reasonable expenses, including counsel fees, incurred in defending the proceeding, if it finds that the proceeding was commenced without reasonable cause. If a derivative action is successful in whole or in part, or if anything is received by the plaintiff […]
§ 43-38-705. Equitable Relief
If a cooperative or an officer or director of the cooperative violates a provision of this chapter, a court in this state may, in an action brought by a member of the cooperative, grant any equitable relief it considers just and reasonable in the circumstances and award expenses, including counsel fees and disbursements, to the […]
§ 43-38-701. Derivative Actions
A member may not commence a proceeding in the name of a domestic cooperative, unless the member was a member of the cooperative when the transaction complained of occurred, or unless the member becomes a member through transfer by operation of law from one who was a member at that time.