Standing

Standing. — (1) A shareholder may not commence a derivative proceeding unless the shareholder is a shareholder at the time the action is commenced and: (a) Was a shareholder when the conduct giving rise to the action occurred; or (b) Whose status as a shareholder devolved on the person through transfer or by operation of law from one who was a shareholder when the conduct giving rise to the action occurred. (2) In ss. 607.0741 - 607.0747 , the term “shareholder” means a record shareholder, a beneficial shareholder, or an unrestricted voting trust beneficial owner.