South Dakota Statutes
§ 47-14A-73 — Qualifications of plaintiff in derivative action.
In a derivative action, the plaintiff must be a beneficial owner at the time of bringing the action and:
(1)At the time of the transaction of which the plaintiff complains; or (2) Plaintiff's status as a beneficial owner had devolved upon plaintiff by operation of law or pursuant to the terms of the governing instrument of the business trust from a person who was a beneficial owner at the time of the transaction.
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South Dakota § 47-14A-73 (Qualifications of plaintiff in derivative action.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2001, ch 245, § 73.
Nearby Sections
15
§ 47-1-1
Repealed§ 47-1-3
Repealed§ 47-10-1
Purposes of corporations.§ 47-10-10
Incorporators.§ 47-10-11
Directors--Number and term of office.§ 47-10-13
Accumulation of surplus--Use of surplus.§ 47-10-14
Persons authorized to hold common stock.§ 47-10-18
Nonstockholder members--Duty to lend.§ 47-10-2
Powers of corporations.