Haw. Rev. Stat. § 414-172
Standing
Hawaii · Hawaii Revised Statutes Chapter 414 — Hawaii Business Corporation Act · Status: effective
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- Citation
- Haw. Rev. Stat. § 414-172, Standing, Hawaii, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2423668
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Full text
A shareholder may not 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.