Section 7.40: Subdivision definitions
70 words·~1 min read·
/ma/part-i/title-xxii/chapter-156d/7-22·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 7.40. SUBDIVISION DEFINITIONS
In this SUBDIVISION the following words shall have the following meanings unless the context requires otherwise:
''Derivative proceeding'', a civil suit in the right of a domestic corporation or, to the extent provided in section 7.47, in the right of a foreign corporation.
''Shareholder'' includes a beneficial owner whose shares are held in a voting trust or held by a nominee on the beneficial owner's behalf.