490.741  Standing.
  A shareholder shall not commence or maintain a derivative proceeding unless the shareholder satisfies both of the following:
  1.  Was a shareholder of the corporation at the time of the act or omission complained of or became a shareholder through transfer by operation of law from one who was a shareholder at that time.
  2.  Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.
2002 Acts, ch 1154, §24, 125