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District of Columbia Code Division V. Local Business Affairs § 29-411.02. Standing.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A derivative proceeding may be brought in the Superior Court by:

(1) A member or members having 5% or more of the voting power, or by 50 members, whichever is less; or

(2) Any director or member of a designated body.

(b) The plaintiff in a derivative proceeding shall be a member, director, or member of a designated body at the time of bringing the proceeding. A plaintiff that is a member shall also have been a member at the time of any action complained of in the derivative proceeding.

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Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 29-411.02. Standing. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-29-411-02/

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