Title 13-C: MAINE BUSINESS CORPORATION ACT HEADING: PL 2001, C. 640, PT. A, §2 (NEW); PT. B, §7 (AFF)
Chapter 7: SHAREHOLDERS HEADING: PL 2001, C. 640, PT. A, §2 (NEW); PT. B, §7 (AFF)
Subchapter 4: DERIVATIVE PROCEEDINGS HEADING: PL 2001, C. 640, PT. A, §2 (NEW); PT. B, §7 (AFF)
§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)
.]
SECTION HISTORY
2001, c. 640, §A2 (NEW).
2001, c. 640, §B7 (AFF).
Data for this page extracted on 10/14/2009 10:43:43.