{"data":{"id":"us-la/rs-12-1-741","jurisdiction":"us-la","citation":"RS 12:1-741","heading":"Standing","body":"A. A shareholder may not commence or maintain a derivative proceeding unless the shareholder satisfies all of the following conditions:\n(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.\n(2) Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.\nB. A shareholder who meets the requirements of Subsection A of this Section may file a derivative proceeding to enforce a right of the corporation, but only after the shareholder satisfies the requirements of R.S. 12:1-742.","path":["TITLE 12. CORPORATIONS AND ASSOCIATIONS"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=920284","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:50:52Z","sha256":"1643f2b3dda169799a50b5a1e74887eb5c150b152888bdf789f9b87df1283717","source_id":"us-la","stale":false,"prev":"us-la/rs-12-1-740","next":"us-la/rs-12-1-742"},"notice":"GroundRules: Original legal text. Not legal advice."}