A shareholder may not commence or maintain a derivative proceeding unless the shareholder:

1. 1. Shareholder at time of act or omission 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; and

   [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]

2. 2. Represents interests Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.

   [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]

PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF).