§ 47-1a-741

47-1A-741. Standing.No shareholder may commence or maintain a derivative proceeding unless the shareholder:(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; and(2)Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation. Source: SL 2005, ch 239, §124.