Arizona Arizona Revised Statutes
§ 10-741 — Standing
ARS § 10-741Title 10. Corporations and Associations · Ch. 7. SHAREHOLDERS · Art. 4. Derivative Proceedings
Statute text
View on source10-741. Standing A shareholder may not commence or maintain a derivative proceeding unless the shareholder both: 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.