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