Louisiana Revised Statutes 12:1-742.1 – Petition in derivative proceeding
Terms Used In Louisiana Revised Statutes 12:1-742.1
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Plaintiff: The person who files the complaint in a civil lawsuit.
The petition in a derivative proceeding shall do all of the following:
(1) Allege that the plaintiff meets the standing requirements of La. Rev. Stat. 12:1-741.
(2) Allege either that the plaintiff made demand upon the corporation at least ninety days before the filing of the petition as required by La. Rev. Stat. 12:1-742 or that the plaintiff made the demand and, for reasons alleged in the petition, the filing of the petition before the expiration of the ninety-day period complies with La. Rev. Stat. 12:1-742.
(3) Join as defendants the corporation and the obligor on the obligation sought to be enforced.
(4) Include a prayer for judgment in favor of the corporation and against the obligor on the obligation sought to be enforced.
(5) Be verified by the affidavit of the plaintiff or his counsel.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.