Delaware Code (Titles 8, 9, 25, 30)
8 Del. C. § 367
Suits to enforce the requirements of § 365(a) of this title
Any action to enforce the balancing requirement of § 365(a) of this title, including any individual, derivative or any other type of action, may not be brought unless the plaintiffs in such action own individually or collectively, as of the date of instituting such action, at least 2% of the corporation’s outstanding shares or, in the case of a corporation with shares listed on a national securities exchange, the lesser of such percentage or shares of the corporation with a market value of at least $2,000,000 as of the date the action is instituted. This section shall not relieve the plaintiffs from complying with any other conditions applicable to filing a derivative action including § 327 of this title and any rules of the court in which the action is filed.
Amendment history
79 Del. Laws, c. 122, § 8; 82 Del. Laws, c. 256, § 19
Source: view the official text
In this title (40 sections)
- 8-343 · Formation of a close corporation
- 8-344 · Election of existing corporation to become a close corporation
- 8-345 · Limitations on continuation of close corporation status
- 8-346 · Voluntary termination of close corporation status by amendment…
- 8-347 · Issuance or transfer of stock of a close corporation in breach…
- 8-348 · Involuntary termination of close corporation status; proceeding…
- 8-349 · Corporate option where a restriction on transfer of a security…
- 8-350 · Agreements restricting discretion of directors
- 8-351 · Management by stockholders
- 8-352 · Appointment of custodian for close corporation
- 8-353 · Appointment of a provisional director in certain cases
- 8-354 · Operating corporation as partnership
- 8-355 · Stockholders’ option to dissolve corporation
- 8-356 · Effect of this subchapter on other laws
- 8-361 · Law applicable to public benefit corporations; how formed
- 8-362 · Public benefit corporation defined; contents of certificate of…
- 8-363 · Nonprofit nonstock corporations [For application of this…
- 8-364 · Stock certificates; notices regarding uncertificated stock
- 8-365 · Duties of directors
- 8-366 · Periodic statements and third-party certification
- 8-367 · Suits to enforce the requirements of § 365(a) of this title
- 8-368 · No effect on other corporations
- 8-371 · Definition; qualification to do business in State; procedure
- 8-372 · Additional requirements in case of change of name, change of…
- 8-373 · Exceptions to requirements
- 8-374 · Annual report
- 8-375 · Failure to file report
- 8-376 · Service of process upon qualified foreign corporations
- 8-377 · Change of registered agent; reinstatement of qualification to…
- 8-378 · Penalties for noncompliance
- 8-379 · Banking powers denied
- 8-380 · Foreign corporation as fiduciary in this State
- 8-381 · Withdrawal of foreign corporation from State; procedure;…
- 8-382 · Service of process on nonqualifying foreign corporations
- 8-383 · Actions by and against unqualified foreign corporations
- 8-384 · Foreign corporations doing business without having qualified;…
- 8-385 · Filing of certain instruments with recorder of deeds not…
- 8-388 · Domestication of non-United States entities [For application of…
- 8-389 · Temporary transfer of domicile into this State
- 8-390 · Transfer, domestication or continuance of domestic corporations…