GroundRules
18 GCA § 28721: Standing.
Where this section sits in the code
- Title 18: Business Structure and Function
- Division 1 - Business Structure
- Part 5 - Guam Business Corporation Act
- Chapter 28: Guam Business Corporation Act
- ARTICLE 7: SHAREHOLDERS
- SUBARTICLE A: DERIVATIVE PROCEEDINGS
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 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.
Collected 2026-09-27T03:55:38Z. Source file · JSON