D.C. Code § 29-305.51

Current through codified legislation effective April 20, 2024

Section 29-305.51 - Standing

A shareholder shall not 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 that was a shareholder at that time; and

(2) Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.

D.C. Code § 29-305.51

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.