Connecticut § 33-721 - Standing.
Full text of Connecticut Connecticut General Statutes § 33-721 — Standing., with citation guidance and answers to common questions.
§ 33-721. Standing.
Sec. 33-721. Standing. 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.
(P.A. 94-186, S. 76, 215.)
History: P.A. 94-186 effective January 1, 1997.
Defendant who is no longer a shareholder in the corporation cannot maintain a derivative action on its behalf. 104 CA 810.
Frequently Asked Questions About Connecticut § 33-721
What does Connecticut General Statutes § 33-721 cover?
Section 33-721 ("Standing.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 33-721?
A common citation format is "Connecticut General Statutes § 33-721" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 33-721 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.