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2017 Iowa Code
Title XII - BUSINESS ENTITIES
Chapter 490 - BUSINESS CORPORATIONS
Section 490.741 - Standing.

Universal Citation: IA Code § 490.741 (2017)
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1 BUSINESS CORPORATIONS, §490.741 490.741 Standing. A shareholder shall not commence or maintain a derivative proceeding unless the shareholder satisfies both of the following: 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. 2. Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation. 2002 Acts, ch 1154, §24, 125 Referred to in §490.809 Wed Feb 08 04:08:55 2017 Iowa Code 2017, Section 490.741 (11, 1)
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