2018 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.

Universal Citation: MS Code § 79-29-1111 (2018)

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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