Skip Navigation Links
      RS 12:1-741     


§1-741.  Standing

A.  A shareholder may not commence or maintain a derivative proceeding unless the shareholder satisfies all of the following conditions:

(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.

(2)  Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.

B.  A shareholder who meets the requirements of Subsection A of this Section  may file a derivative proceeding to enforce a right of the corporation, but only after the shareholder satisfies the requirements of R.S. 12:1-742.

Acts 2014, No. 328, §1, eff. Jan. 1, 2015.

If you experience any technical difficulties navigating this website, click here to contact the webmaster.
P.O. Box 94062 (900 North Third Street) Baton Rouge, Louisiana 70804-9062