South Dakota § 47-1A-741 Standing.

South Dakota Statutes

§ 47-1A-741 — Standing.

South Dakota § 47-1A-741

Title 47CORPORATIONS

Ch. 47-1SOUTH DAKOTA BUSINESS CORPORATION ACT

This text of South Dakota § 47-1A-741 (Standing.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 47-1A-741 (2026).

Text

No shareholder may 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 who 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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No shareholder may 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 who was a shareholder at that time; and (2) Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.