Louisiana § 12:1-741 Standing

Louisiana Statutes

§ 12:1-741 — Standing

Louisiana·Title 12 Conservation of Cultural Resources

A. A shareholder may not commence or maintain a derivative proceeding unless the shareholder satisfies all of the following conditions:

(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. B. A shareholder who meets the requirements of Subsection A of this Section may file a derivative proceeding to enforce a right of the corporation, but only after the shareholder satisfies the requirements of R.S. 12:1-742.

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A. A shareholder may not commence or maintain a derivative proceeding unless the shareholder satisfies all of the following conditions:
(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.
B. A shareholder who meets the requirements of Subsection A of this Section may file a derivative proceeding to enforce a right of the corporation, but only after the shareholder satisfies the requirements of R.S. 12:1-742.

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