35-14-741. Standing.
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/mt/title-35/chapter-14/part-7/35-14-741·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
35-14-741 . Standing. A shareholder may not commence or maintain a derivative proceeding unless the shareholder:
(1)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 who was a shareholder at that time; and
(2)fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.