N.C. Gen. Stat. § 55-7-41

Current through Session Law 2024-53

Section 55-7-41 - 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.

N.C. Gen. Stat. § 55-7-41

1995, c. 149, s. 1.