The caption
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State court of last resort · ST-VA-SC
Davis v. MKR Development, LLC
No. 171020Supreme Court of Virginia
171020 Davis v. MKR Development, LLC 05/31/2018 In a derivative action brought on behalf of a limited liability company by the majority shareholder against the entity appointed under the LLC's operating agreem…
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171020 Davis v. MKR Development, LLC 05/31/2018 In a derivative action brought on behalf of a limited liability company by the ma…
- Court
- Supreme Court of Virginia
- First seen
- Oct 4, 2026
- Last entry
- May 31, 2018
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Docket entry
171020 Davis v. MKR Development, LLC 05/31/2018 In a derivative action brought on behalf of a limited liability company by the majority shareholder against the entity appointed under the LLC's operating agreement to manage the company, along with two of the manager's principals, the circuit court erred in dismissing the action on the ground that the plaintiff had failed to first make a demand for the corporation to take action. Although Code § 13.1-1042, as amended, no longer expressly states a "futility exception" to the demand requirement, the revised statute did not abolish the futility exception, which has long been part of the law and is contemplated in other provisions of Virginia sta…
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