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Form a Business

Standing

M.G.L. c. 156D, § 7.41
in effect
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c. 156D, § 7.41. Standing Section 7.41. 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.
Source: Massachusetts General Court (malegislature.gov)URL: https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXXII/Chapter156D/Section7.41Fetched: 10/20/2026

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