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2019 South Dakota Codified Laws
Title 47 - Corporations
Chapter 01A - South Dakota Business Corporation Act
§ 47-1A-744 Dismissal upon determination that maintenance of proceeding not in best interests of corporation.
Universal Citation: SD Codified L § 47-1A-744 (2019)
47-1A-744. Dismissal upon determination that maintenance of proceeding not in best interests of corporation. A derivative proceeding shall be dismissed by the court on motion by the corporation if one of the groups specified in §§ 47-1A-744.1 or 47-1A-744.5 has determined in good faith after conducting a reasonable inquiry upon which its conclusions are based that the maintenance of the derivative proceeding is not in the best interests of the corporation.
Source: SL 2005, ch 239, § 127.
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