Me. Stat. tit. 13-C § 752

Current through 131st (2023-2024) Legislature Chapter 684

Section 752 - Standing

A shareholder may not commence or maintain a derivative proceeding unless the shareholder: [2001, c. 640, Pt. A, §2(NEW); 2001, c. 640, Pt. B, §7(AFF).]

1.Shareholder at time of act or omission. 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

[2001, c. 640, Pt. A, §2(NEW); 2001, c. 640, Pt. B, §7(AFF).]

2.Represents interests. Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.

[2001, c. 640, Pt. A, §2(NEW); 2001, c. 640, Pt. B, §7(AFF).]

13-C M.R.S. § 752

2001, c. 640, §A2 (NEW) . 2001, c. 640, §B7 (AFF) .