§ 1401. — Stockholder's derivative action.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 28USC1401]
TITLE 28--JUDICIARY AND JUDICIAL PROCEDURE
PART IV--JURISDICTION AND VENUE
CHAPTER 87--DISTRICT COURTS; VENUE
Sec. 1401. Stockholder's derivative action
Any civil action by a stockholder on behalf of his corporation may
be prosecuted in any judicial district where the corporation might have
sued the same defendants.
(June 25, 1948, ch. 646, 62 Stat. 936.)
Historical and Revision Notes
Based on title 28, U.S.C., 1940 ed., Sec. 112 (part) (Mar. 3, 1911,
ch. 231, Sec. 51, 36 Stat. 1101; Sept. 19, 1922, ch. 345, 42 Stat. 849;
Mar. 4, 1925, ch. 526, Sec. 1, 43 Stat. 1264; Apr. 16, 1936, ch. 230, 49
Stat. 1213).
For disposition of other provisions of section 112 of title 28,
U.S.C., 1940 ed., see reviser's note under section 1391 of this title.
Words ``civil action'' were substituted for ``suit,'' in view of
Rule 2 of the Federal Rules of Civil Procedure.
Words ``other than said corporation,'' after ``same defendants,''
were omitted as superfluous. Obviously a corporation would not be suing
itself.
Changes were made in phraseology.
