Ga. Code § 14-2-741

Current through 2023-2024 Legislative Session Chapter 374

Section 14-2-741 - Standing

A shareholder may 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 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.

OCGA § 14-2-741