OH · rules
Ohio Civ.R. 23.1
Derivative Actions by Shareholders
In a derivative action brought by one or more legal or equitable owners of shares 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 he complains or that his share thereafter devolved on him by operation
of law. The complaint shall also allege with particularity the efforts, if any, made by the plaintiff
to obtain the action he desires from the directors and, if necessary, from the shareholders and the
reasons for his failure to obtain the action or for not making the effort. The derivative action may
not be maintained if it appears that the plaintiff does not fairly and adequately represent the
interests of the shareholders similarly situated in enforcing the right of the corporation. The action
shall not be dismissed or compromised without the approval of the court, and notice of the
proposed dismissal or compromise shall be given to shareholders in such manner as the court
directs.
History
Effective Date: July 1, 1970
Provenance
- Source
- supremecourt.ohio.gov
- Retrieved
- 2026-09-14
- Edition
- 2026-09-14
- Content hash
1638045e8cc802212b94ea3b85ba1ab0a66dc5d806e9034f50f5102700887ed1
The link goes to the issuing authority’s own document — the one we read to produce this record. Where a source publishes whole titles rather than sections, your browser may need a moment to jump to the provision.
Unofficial copy of government-published law, reproduced from official sources with full provenance. Not an official publication; verify against official sources before relying on it in a filing. Records in the 'guidance' corpus, and only that corpus, are sub-regulatory (interpretive guidelines, survey procedures) and are not binding law. Validity bounds follow each jurisdiction's declared temporalBasis.