Delaware Code Title 8 Sec. 327 – Stockholder’s derivative action; allegation of stock ownership
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In any derivative suit instituted by a stockholder of a corporation, it shall be averred in the complaint that the plaintiff was a stockholder of the corporation at the time of the transaction of which such stockholder complains or that such stockholder’s stock thereafter devolved upon such stockholder by operation of law.
8 Del. C. 1953, § ?327; 56 Del. Laws, c. 50; 71 Del. Laws, c. 339, § ?73;
Terms Used In Delaware Code Title 8 Sec. 327
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Plaintiff: The person who files the complaint in a civil lawsuit.