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PART I. ADMINISTRATION OF THE GOVERNMENT

TITLE XXII. CORPORATIONS

CHAPTER 156D. BUSINESS CORPORATIONS

SUBDIVISION D. DERIVATIVE PROCEEDINGS
Chapter 156D: Section 7.40. Subdivision definitions

[ Section heading effective until January 5, 2009. For text effective January 5, 2009, see below.]

  Section 7.40. SUBCHAPTER DEFINITIONS

[ Section heading as amended by 2008, 451, Sec. 112 effective January 5, 2009. For text effective until January 5, 2009, see above.]

  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.