Iowa Code

Iowa Code § 490.741 (2026)

Standing

✓ current as of July 2026

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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 Referred to in §490.809 \n

Notes of Decisions

Cited in 2 cases (1 in the last 5 years), 2016–2023 · leading case: Bernice Gill v. Bill Vorhes & Vorhes, Ltd. (Iowa Ct. App. 2016).

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Bernice Gill v. Bill Vorhes & Vorhes, Ltd. (Iowa Ct. App. 2016). · cites it 2× “See Iowa Code § 490.741 . The record includes the April 28, 2011 written 5 This attorney was not prosecuting the claim but was allowed to appear and to cross- examine witnesses.”

Hora v. Hora (Iowa Ct. App. 2023). “§ 490.741. The district court correctly noted that no Iowa case law speaks to how the burden is allocated under this section, but we agree with the district court that the text of the statute allocates the burden of proving standing to the plaintiffs.”

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