§ 1401. Stockholder’s derivative action

152 words·~1 min read·/usc/title-28/section-1401

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Any civil action by a stockholder on behalf of his corporation may be prosecuted in any judicial district where the corporation might have sued the same defendants.

(June 25, 1948, ch. 646, 62 Stat. 936.)

Historical and Revision Notes

Based on title 28, U.S.C., 1940 ed., § 112

(part)(Mar. 3, 1911, ch. 231, § 51, 36 Stat. 1101; Sept. 19, 1922, ch. 345, 42 Stat. 849; Mar. 4, 1925, ch. 526, § 1, 43 Stat. 1264; Apr. 16, 1936, ch. 230, 49 Stat. 1213).

For disposition of other provisions of section 112 of title 28, U.S.C., 1940 ed., see reviser’s note under section 1391 of this title.

Words “civil action” were substituted for “suit,” in view of Rule 2 of the Federal Rules of Civil Procedure.

Words “other than said corporation,” after “same defendants,” were omitted as superfluous. Obviously a corporation would not be suing itself.

Changes were made in phraseology.

Connectionstraces to 2

Traces to 2 documents

U.S. Code

10 references not yet in our index

June 25, 1948, ch. 646
62 Stat. 936
Mar. 3, 1911, ch. 231, § 51
36 Stat. 1101
Sept. 19, 1922, ch. 345
42 Stat. 849
Mar. 4, 1925, ch. 526, § 1
43 Stat. 1264
Apr. 16, 1936, ch. 230
49 Stat. 1213

Citation graph

cites case law

§ 1401

Stockholder’s derivative action

U.S.C.§ 112

U.S.C.§ 1391

ActJune 25, 1948, ch. 646

Stat.62 Stat. 936

ActMar. 3, 1911, ch. 231, § 51

Stat.36 Stat. 1101

ActSept. 19, 1922, ch. 345

Cites 12 · showing 7Cited by 0 across 0 sources