Georgia § 14-3-741 - Standing.
Full text of Georgia Official Code of Georgia Annotated § 14-3-741 — Standing., with citation guidance and answers to common questions.
§ 14-3-741. Standing.
A derivative proceeding may be brought either by any director or by any member or members having 5 percent or more of the voting power or by 50 members, whichever is less. A director or members may not commence or maintain a derivative proceeding unless the director or members: Was a director or were members of the corporation at the time of the act or omission complained of (or became a member through transfer by operation of law from one who was a member at that time); or is a director or are members at the time the proceeding is commenced; and Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation. (Code 1981, § 14-3-741 , enacted by Ga. L. 1991, p. 465, § 1.)
Frequently Asked Questions About Georgia § 14-3-741
What does Official Code of Georgia Annotated § 14-3-741 cover?
Section 14-3-741 ("Standing.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. 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 Georgia § 14-3-741?
A common citation format is "Official Code of Georgia Annotated § 14-3-741" (Georgia). 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 Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 14-3-741 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia 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 Georgia.