District of Columbia § 29-305.51 Standing.

District of Columbia Statutes

§ 29-305.51 — Standing.

District of Columbia § 29-305.51

JurisdictionDistrict of Columbia

Title 29Business Organizations. [Enacted title]

Ch. 3Business Corporations.

Subch. VShareholders.

Part DDerivative Proceedings.

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Bluebook

D.C. Code § 29-305.51 (2026).

Text

A shareholder shall 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 that 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 shall 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 that was a shareholder at that time; and

(2) Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.