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Wisconsin Statutes Corporations (Ch. 180 to 188) § 181.0741. Derivative proceedings; standing

Current as of January 01, 2025 | Updated by Findlaw Staff

A derivative proceeding may be brought in the right of a corporation or foreign corporation to procure a judgment in its favor by one or more members having 5 percent or more of the voting power or by 50 members, whichever is less, if each of these members meets all of the following conditions:

(1) Membership. The member was a member of the corporation at the time of the act or omission complained of or became a member through transfer by operation of law from a person who was a member at that time.

(2) Representing corporation's interests. The member fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.

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Cite this article: FindLaw.com - Wisconsin Statutes Corporations (Ch. 180 to 188) § 181.0741. Derivative proceedings; standing - last updated January 01, 2025 | https://codes.findlaw.com/wi/corporations-ch-180-to-188/wi-st-181-0741/

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