STANDING

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.