47-1A-744.3. Proceeding commenced after rejection of shareholder demand--Complaint requirements.
61 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-744-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If a derivative proceeding is commenced after a determination has been made rejecting a demand by a shareholder, the complaint shall allege with particularity facts establishing either
(1)that a majority of the board of directors did not consist of independent directors at the time the determination was made, or
(2)that the requirements of § 47-1A-744 have not been met.