D.C. Code § 29-305.51

Standing.

Last amended: 2011Year: 2026Length: 67 wordsOfficial source
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: Standing. | Justis AI