State Codes and Statutes

Statutes > Arizona > Title10 > 10-741

10-741. Standing

A shareholder may not commence or maintain a derivative proceeding unless the shareholder both:

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.

State Codes and Statutes

Statutes > Arizona > Title10 > 10-741

10-741. Standing

A shareholder may not commence or maintain a derivative proceeding unless the shareholder both:

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.


State Codes and Statutes

State Codes and Statutes

Statutes > Arizona > Title10 > 10-741

10-741. Standing

A shareholder may not commence or maintain a derivative proceeding unless the shareholder both:

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.