2013 New Jersey Revised Statutes
Title 14A - CORPORATIONS, GENERAL
Section 14A:3-6.2 - Conditions for commencing, maintaining proceeding.
14A:3-6.2 Conditions for commencing, maintaining proceeding.
2.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 remains a shareholder throughout the derivative proceeding; and
(2)fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.
L.2013, c.42, s.2.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
