Miss. Code § 79-4-7.41

Current through 5/14/2024

Section 79-4-7.41 - Who may commence or maintain derivative proceeding

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.

Miss. Code § 79-4-7.41

Laws, 1993, ch. 368, § 4, eff. 7/1/1993.