Section 14A:3-6.2 - Conditions for commencing, maintaining proceedingA 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 remains a shareholder throughout the derivative proceeding; and(2) fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.Added by L., c. 42,s. 2, eff. 4/1/2013.