{"data":{"id":"us-ia/iowa-code-490.741","jurisdiction":"us-ia","citation":"Iowa Code § 490.741","heading":"Standing.","body":"A shareholder shall not commence or maintain a derivative proceeding unless the shareholder satisfies both of the following:\n1. 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.\n2. Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.","path":["Title XII - BUSINESS ENTITIES (Ch. 486 - 504C)","Chapter 490 - BUSINESS CORPORATIONS","Subchapter VII - SHAREHOLDERS","Part 4 - DERIVATIVE PROCEEDINGS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/490.741.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:12Z","sha256":"d1dc7ce48e9f68cbe640b7fbf23297e19378566cf8a92efa4a132c7427ea5081","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-490.740","next":"us-ia/iowa-code-490.742"},"notice":"GroundRules: Original legal text. Not legal advice."}