As Amended
SEC. 79-4-7.40. Meaning of "derivative proceeding", "shareholder" in subarticle.
In Sections 79-4-7.41 through 79-4-7.47:
(1) "Derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in Section 79-4-7.47, in the right of a foreign corporation.
(2) "Shareholder" includes a beneficial owner whose shares are held in a voting trust or held by a nominee on the beneficial owner's behalf.
SOURCES: Laws, 1987, ch. 486, Sec. 7.40; 1993, ch. 368, Sec. 3, eff from and after July 1, 1993