2018 Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 2 - Business Corporations
Article 7 - Shareholders
Part 4 - Derivative Proceedings
§ 14-2-741. Standing

Universal Citation: GA Code § 14-2-741 (2018)
    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.

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