§ 14-2-741 - Standing - Georgia Statutes

O.C.G.A. 14-2-741 (2010)
14-2-741. Standing

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.