30-29-741. STANDING. A shareholder may not commence or maintain a derivative proceeding unless the shareholder:
(a) 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 (1) who was a shareholder at that time; and
(b) Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.
History:
[30-29-741, added 2015, ch. 243, sec. 62, p. 925; am. 2019, ch. 90, sec. 66, p. 266.]
Structure Idaho Code
Chapter 29 - GENERAL BUSINESS CORPORATIONS
Section 30-29-701 - ANNUAL MEETING.
Section 30-29-702 - SPECIAL MEETING.
Section 30-29-703 - COURT-ORDERED MEETING.
Section 30-29-704 - ACTION WITHOUT MEETING.
Section 30-29-705 - NOTICE OF MEETING.
Section 30-29-706 - WAIVER OF NOTICE.
Section 30-29-707 - RECORD DATE FOR MEETING.
Section 30-29-708 - CONDUCT OF MEETING.
Section 30-29-709 - REMOTE PARTICIPATION IN SHAREHOLDERS’ MEETINGS.
Section 30-29-720 - SHAREHOLDERS’ LIST FOR MEETING.
Section 30-29-721 - VOTING ENTITLEMENT OF SHARES.
Section 30-29-723 - SHARES HELD BY INTERMEDIARIES AND NOMINEES.
Section 30-29-724 - ACCEPTANCE OF VOTES AND OTHER INSTRUMENTS.
Section 30-29-725 - QUORUM AND VOTING REQUIREMENTS FOR VOTING GROUPS.
Section 30-29-726 - ACTION BY SINGLE AND MULTIPLE VOTING GROUPS.
Section 30-29-727 - MODIFYING QUORUM OR VOTING REQUIREMENTS.
Section 30-29-728 - VOTING FOR DIRECTORS — CUMULATIVE VOTING.
Section 30-29-729 - INSPECTORS OF ELECTION.
Section 30-29-730 - VOTING TRUSTS.
Section 30-29-731 - VOTING AGREEMENTS.
Section 30-29-732 - SHAREHOLDER AGREEMENTS.
Section 30-29-740 - PART DEFINITIONS.
Section 30-29-743 - STAY OF PROCEEDINGS.
Section 30-29-744 - DISMISSAL.
Section 30-29-745 - DISCONTINUANCE OR SETTLEMENT.
Section 30-29-746 - PAYMENT OF EXPENSES.
Section 30-29-747 - APPLICABILITY TO FOREIGN CORPORATIONS.
Section 30-29-748 - SHAREHOLDER ACTION TO APPOINT A CUSTODIAN OR RECEIVER.