State Codes and Statutes
Statutes > Massachusetts > PARTI > TITLEXXII > CHAPTER156D > Section741Section 7.41. 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.
