CoastalSouth Bancshares adds Georgia business court exclusive forum bylaw
COSO•Derivative suit ownership threshold
The amendment imposes a 1% ownership threshold to bring or maintain derivative lawsuits, measured at the time of the alleged misconduct.
Bylaw amendment adds exclusive forum provision
CoastalSouth Bancshares amended its bylaws on July 23, 2026, adding an exclusive-forum article for internal entity claims.
Securities Act and Exchange Act claims carved out
The forum provision carves out direct claims under the Securities Act of 1933 or the Securities Exchange Act of 1934.
Georgia State-wide Business Court set as sole venue
The bylaw sets the Georgia State-wide Business Court as the sole venue for covered disputes, including shareholder actions seeking court-ordered inspection of records.
