Code of Alabama
Division D - Derivative Proceedings.
Section 10A-2A-7.42 - Standing.

A stockholder may commence or maintain a derivative action in the right of the corporation only if the stockholder:
(1) fairly and adequately represents the interests of the corporation in enforcing the right of the corporation; and
(2) either:
(A) was a stockholder of the corporation at the time of the act or omission of which the stockholder complains; or
(B) whose status as a stockholder devolved upon the person by operation of law from a person who was a stockholder at the time of the act or omission of which the stockholder complains.

Structure Code of Alabama