Indiana § 28-13-8-2 Right to commence proceeding

Indiana Statutes

§ 28-13-8-2 — Right to commence proceeding

Indiana·Art. 13 CORPORATE GOVERNANCE·Ch. 8 Derivative Proceedings

(a)A person may not commence a proceeding in the right of a corporation unless the person was a shareholder of the corporation when the transaction complained of occurred or unless the person became a shareholder through transfer by operation of law from one who was a shareholder at that time.

(b)A derivative proceeding may not be maintained if it appears that the person commencing the proceeding does not fairly and adequately represent the interests of the shareholders in enforcing the right of the corporation.

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(a) A person may not commence a proceeding
in the right of a corporation unless the person was a shareholder of the
corporation when the transaction complained of occurred or unless the
person became a shareholder through transfer by operation of law from
one who was a shareholder at that time.
(b) A derivative proceeding may not be maintained if it appears that
the person commencing the proceeding does not fairly and adequately
represent the interests of the shareholders in enforcing the right of the
corporation.

Indiana § 28-13-8-2 (Right to commence proceeding) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.