Arizona § 10-741 Standing

Arizona Statutes

§ 10-741 — Standing

Arizona·Title 10 Arizona Revised Statutes·Ch. 7 SHAREHOLDERS·Art. 4 Derivative Proceedings

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.

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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.

Arizona § 10-741 (Standing) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.