Standing
Applied in 6 court decisions — leading case 140 N.C. App. 390 - Norman v. Nash Johnson & Sons' Farms, Inc. (2000)
Most recently applied in Ehmann v. Medflow, Inc. (September 2017)
1995, c. 149, s. 1.
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
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.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.