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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XXII CORPORATIONS
  • CHAPTER 156D BUSINESS CORPORATIONS
  • Section 7.40 Subdivision definitions

Section 7.40. SUBDIVISION DEFINITIONS

In this SUBDIVISION the following words shall have the following meanings unless the context requires otherwise:

“Derivative proceeding”, a civil suit in the right of a domestic corporation or, to the extent provided in section 7.47, in the right of a foreign corporation.

“Shareholder” includes a beneficial owner whose shares are held in a voting trust or held by a nominee on the beneficial owner’s behalf.