Section 7.40 Subdivision definitions
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.