2011 Wisconsin Laws 180.0741 – Standing
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180.0741
180.0741 Standing. A shareholder or beneficial owner may not commence or maintain a derivative proceeding unless the shareholder or beneficial owner satisfies all of the following:
180.0741(1)
(1) Was a shareholder or beneficial owner of the corporation at the time of the act or omission complained of or became a shareholder or beneficial owner through transfer by operation of law from a person who was a shareholder or beneficial owner at that time.
180.0741(2)
(2) Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.