Haw. Rev. Stat. § 414-172

Current through the 2024 Legislative Session

Section 414-172 - 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.

HRS § 414-172

L 2000, c 244 , pt of §1