State Codes and Statutes
Statutes > North-carolina > Chapter_55 > GS_55-7-41§ 55‑7‑41. Standing.
A shareholder may not commenceor maintain a derivative proceeding unless the shareholder:
(1) Was a shareholder ofthe corporation at the time of the act or omission complained of or became ashareholder through transfer by operation of law from one who was a shareholderat that time; and
(2) Fairly andadequately represents the interests of the corporation in enforcing the rightof the corporation. (1995, c. 149, s. 1.)
