There is a newer version of the Mississippi Code
2013 Mississippi Code
Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS
Chapter 29 - REVISED MISSISSIPPI LIMITED LIABILITY COMPANY ACT
Article 11 - DERIVATIVE ACTIONS
§ 79-29-1111 - Discontinuance or settlement
MS Code § 79-29-1111 (2013) What's This?
A derivative proceeding may not be discontinued or settled without the court's approval. If the court determines that a proposed discontinuance or settlement will substantially affect the interests of the limited liability company's members or a class of members, the court shall direct that notice be given to the members affected.
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