{"data":{"id":"us-gu/18-gca-28721","jurisdiction":"us-gu","citation":"18 GCA § 28721","heading":"Standing.","body":"A shareholder may not commence or maintain a derivative proceeding unless the shareholder:\n(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\n(b) fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.","path":["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"],"source_url":"https://col.guamcourts.gov/sites/default/files/18gc028.pdf","current_through":"P.L. 38-133 (June 4, 2026)","vintage":"","retrieved_at":"2026-09-27T03:55:38Z","sha256":"a9d3f666a73d7cbd5e62e0aa68106ed8a80c42ac837afcaac4aac48b05e0915b","source_id":"us-gu","stale":false,"prev":"us-gu/18-gca-28720","next":"us-gu/18-gca-28722"},"notice":"GroundRules: Original legal text. Not legal advice."}