Georgia § 14-3-741 Standing

Georgia Statutes

§ 14-3-741 — Standing

Georgia § 14-3-741

Title14

This text of Georgia § 14-3-741 (Standing) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 14-3-741 (2026).

Text

(a)A derivative proceeding may be brought by:

(1)Any director;

(2)Any member or members having 5 percent or more of the voting power; or (3) Fifty or more members, regardless of voting power.

(b)A member may not commence or maintain a derivative proceeding unless the member:

(1)Was a member of the corporation at the time of the act or omission complained of or became a member through transfer by operation of law from one who was a member 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) A derivative proceeding may be brought by: (1) Any director; (2) Any member or members having 5 percent or more of the voting power; or (3) Fifty or more members, regardless of voting power. (b) A member may not commence or maintain a derivative proceeding unless the member: (1) Was a member of the corporation at the time of the act or omission complained of or became a member through transfer by operation of law from one who was a member at that time; and (2) Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.