FEDERAL · 28 U.S.C. · Chapter 87
Stockholder's derivative action
28 U.S.C. § 1401
Title28 — Judiciary and Judicial Procedure
Chapter87 — DISTRICT COURTS; VENUE
This text of 28 U.S.C. § 1401 (Stockholder's derivative action) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
28 U.S.C. § 1401.
Text
Any civil action by a stockholder on behalf of his corporation may be prosecuted in any judicial district where the corporation might have sued the same defendants.
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Source Credit
History
(June 25, 1948, ch. 646, 62 Stat. 936.)
Editorial Notes
Historical and Revision Notes
Based on title 28, U.S.C., 1940 ed., §112 (part) (Mar. 3, 1911, ch. 231, §51, 36 Stat. 1101; Sept. 19, 1922, ch. 345, 42 Stat. 849; Mar. 4, 1925, ch. 526, §1, 43 Stat. 1264; Apr. 16, 1936, ch. 230, 49 Stat. 1213).
For disposition of other provisions of section 112 of title 28, U.S.C., 1940 ed., see reviser's note under section 1391 of this title.
Words "civil action" were substituted for "suit," in view of Rule 2 of the Federal Rules of Civil Procedure.
Words "other than said corporation," after "same defendants," were omitted as superfluous. Obviously a corporation would not be suing itself.
Changes were made in phraseology.
Based on title 28, U.S.C., 1940 ed., §112 (part) (Mar. 3, 1911, ch. 231, §51, 36 Stat. 1101; Sept. 19, 1922, ch. 345, 42 Stat. 849; Mar. 4, 1925, ch. 526, §1, 43 Stat. 1264; Apr. 16, 1936, ch. 230, 49 Stat. 1213).
For disposition of other provisions of section 112 of title 28, U.S.C., 1940 ed., see reviser's note under section 1391 of this title.
Words "civil action" were substituted for "suit," in view of Rule 2 of the Federal Rules of Civil Procedure.
Words "other than said corporation," after "same defendants," were omitted as superfluous. Obviously a corporation would not be suing itself.
Changes were made in phraseology.
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28 U.S.C. § 1401, Counsel Stack Legal Research, https://law.counselstack.com/usc/28/1401.