HRS §414-172
Who can sue on behalf of a corporation
Read the official text at capitol.hawaii.gov ↗A shareholder can only start or continue a derivative lawsuit if they owned stock when the problem happened (or got it legally from someone who did) and they fairly represent the corporation's interests. This section sets those two conditions.
The statute, as written — Standing
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
A shareholder may not commence or maintain a derivative proceeding unless the shareholder: (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; and (2) Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.