§414-172 - Standing. - Hawaii Statutes

     [§414-172]  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. [L 2000, c 244, pt of §1]