Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.

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TITLE 30
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:
[30-29-741, added 2015, ch. 243, sec. 62, p. 925; am. 2019, ch. 90, sec. 66, p. 266.]


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