Florida Statutes 607.0741 – Standing
Current as of: 2023 | Check for updates
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(1) A shareholder may not commence a derivative proceeding unless the shareholder is a shareholder at the time the action is commenced and:
(a) Was a shareholder when the conduct giving rise to the action occurred; or
Terms Used In Florida Statutes 607.0741
- Beneficial shareholder: means a person who owns the beneficial interest in shares. See Florida Statutes 607.01401
- Person: includes an individual and an entity. See Florida Statutes 607.01401
- Proceeding: includes a civil suit, a criminal action, an administrative action, and an investigatory action. See Florida Statutes 607.01401
- Record shareholder: means :(a) The person in whose name shares are registered in the records of the corporation; or(b) The person identified as a beneficial owner of shares in the beneficial ownership certificate under…. See Florida Statutes 607.01401
- Shareholder: means a record shareholder. See Florida Statutes 607.01401
- Unrestricted voting trust beneficial owner: means , with respect to any shareholder rights, a voting trust beneficial owner whose entitlement to exercise the shareholder right in question is not inconsistent with the voting trust agreement. See Florida Statutes 607.01401
(b) Whose status as a shareholder devolved on the person through transfer or by operation of law from one who was a shareholder when the conduct giving rise to the action occurred.