Standing
Known as the Idaho Business Corporation Act
The act spans §§ 30–30 (209 sections).
I.C., § 30-29 -741, as added by 2015, ch. 243, § 62, p. 758; am. 2019, ch. 90, § 66, p. 220.
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 (1) 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.
Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.