Connecticut § 33-721 Standing.

Connecticut Statutes

§ 33-721 — Standing.

Connecticut § 33-721

Title 33Corporations

Ch. 601Business Corporations

This text of Connecticut § 33-721 (Standing.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 33-721 (2026).

Text

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.

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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.

Legislative History

(P.A. 94-186, S. 76, 215.) History: P.A. 94-186 effective January 1, 1997. Defendant who is no longer a shareholder in the corporation cannot maintain a derivative action on its behalf. 104 CA 810.