Wisconsin § 181.0741 Derivative proceedings; standing.

Wisconsin Statutes

§ 181.0741 — Derivative proceedings; standing.

Wisconsin § 181.0741

Ch. 181Nonstock corporations

Subch.subch. VII of ch. 181 SUBCHAPTER VII

MEMBER MEETINGS AND VOTING

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Bluebook

Wis. Stat. § 181.0741 (2026).

Text

0741  A derivative proceeding may be brought in the right of a corporation or foreign corporation to procure a judgment in its favor by one or more members having 5 percent or more of the voting power or by 50 members, whichever is less, if each of these members meets all of the following conditions:
0741(1) (1) Membership. The member 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 a person who was a member at that time.
0741(2) (2) Representing corporation’s interests. The member fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.

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181.0741 A derivative proceeding may be brought in the right of a corporation or foreign corporation to procure a judgment in its favor by one or more members having 5 percent or more of the voting power or by 50 members, whichever is less, if each of these members meets all of the following conditions:
181.0741(1) (1) Membership. The member 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 a person who was a member at that time.
181.0741(2) (2) Representing corporation’s interests. The member fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.