ME · rules
M.R. Civ. P. 23A
DERIVATIVE ACTIONS BY SHAREHOLDERS
In a derivative action brought in the Superior Court by one or more
shareholders to enforce a right of a corporation, the corporation having failed
to enforce a right which may properly be asserted by it, the complaint shall be
verified and shall allege that the plaintiff was a shareholder at the time of the
transaction of which the plaintiff complains or that the plaintiff’s share
thereafter devolved on the plaintiff by operation of law. The complaint shall
also allege with particularity that the plaintiff has made a written demand upon
the corporation to take the suitable action. The derivative action may not be
maintained if it appears that the plaintiff does not fairly and adequately
represent the interests of the corporation in enforcing the right of the
corporation. The action shall not be dismissed or settled without the approval
of the court, and notice of the proposed dismissal or compromise shall be given
to shareholders or members in such manner as the court directs if the court
determines that a proposed discontinuance or settlement substantially affects
the interests of a corporation’s shareholders or a class of shareholders.
Provenance
- Source
- courts.maine.gov
- Retrieved
- 2026-09-24
- Edition
- 2026-09-24
- Content hash
172591b2d544bba26fe2fff6008f0422f45b9637b43e283cdd462aed69018548
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