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Idaho Statutes
Idaho Statutes are updated to the website July 1 following the legislative session.
CORPORATIONS
CHAPTER 29
GENERAL BUSINESS CORPORATIONS
PART 7
SHAREHOLDERS
30-29-741. STANDING. A shareholder may not commence or maintain a derivative proceeding unless the shareholder:
(a) Was a shareholder of the corporation at the time of the act or omission complained of or became a shareholder through transfer by operation of law from one (1) who was a shareholder at that time; and
(b) Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.
History: