There is a newer version of the Idaho Code and Statutes
2011 Idaho Code
TITLE 30 CORPORATIONS
CHAPTER 1 GENERAL BUSINESS CORPORATIONS
PART 7. SHAREHOLDERS
30-1-741 STANDING.
ID Code § 30-1-741 (2011 through Reg Sess) What's This?
30-1-741. 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 (1) 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.
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