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2015 Mississippi Code
Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS
Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT
Article 7 - SHAREHOLDERS
D. DERIVATIVE PROCEDURES
§ 79-4-745 - Court approval for settlement or discontinuance

MS Code § 79-4-745 (2015) 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 corporation's shareholders or a class of shareholders, the court shall direct that notice be given to the shareholders affected.

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