Current as of April 27, 2021 | Updated by FindLaw Staff
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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.
Cite this article: FindLaw.com - Montana Title 35. Corporations, Partnerships, and Associations § 35-14-741. Standing - last updated April 27, 2021 | https://codes.findlaw.com/mt/title-35-corporations-partnerships-and-associations/mt-code-ann-sect-35-14-741/
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