In Waters v. Superior Court (1962) 58 Cal.2d 885, the California Supreme Court ruled as follows: "In this context the phrase 'person for whose immediate benefit an action is prosecuted' has been held to mean a person who would have an immediate right to the amount recovered or some portion of it as soon as it was recovered by the nominal plaintiff. Similarly in an action defended for the immediate benefit of a person, the liability must be immediate and direct. The liability of a shareholder or a shareholder's right to corporate funds does not become direct merely because he is the sole shareholder." ( Id., at p. 897.)