Which of the following must exist before a shareholder can bring a derivative action?

Question

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Under certain conditions, a shareholder is permitted to sue as a representative of the corporation. There are two basic requirements: first, the shareholder must have owned shares at the time of the wrong; and second, the shareholder must urge the directors and, if appropriate, the other shareholders to direct that such a suit be brought by the corporation.

Which of the Following Must Exist Before a Shareholder Can