As amended through December 8, 2021
Rule 23.1 - Derivative Actions(a) Applicability. This rule applies when one or more shareholders, members, or partners-as applicable-of a corporation, limited liability company, limited partnership, or unincorporated association bring a derivative action to enforce a right that the corporation, limited liability company, limited partnership, or unincorporated association may properly assert but has failed to enforce.(b) Pleading Requirements. The complaint must:(2) allege facts sufficient to show that the plaintiff has standing to maintain the derivative action; and(3) allege facts sufficient to show that the plaintiff satisfies all statutory and other requirements under the law for maintaining the derivative action.(c) Settlement, Voluntary Dismissal, and Compromise. A derivative action may not be settled, voluntarily dismissed, or compromised without court approval. Notice of a proposed settlement, voluntary dismissal, or compromise must be given to shareholders, members, or partners-as applicable-in the manner that the court orders. If the court determines that a proposed settlement, voluntary dismissal, or compromise will substantially affect the interests of the shareholders, members, or partners-or a class of shareholders, members, or partners-the court must order that notice be given to the affected shareholders, members, or partners.
Amended effective January 1, 2017.