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.
Structure Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 29 - Revised Mississippi Limited Liability Company Act
Article 11 - Derivative Actions
§ 79-29-1101. Right to bring action
§ 79-29-1103. Proper plaintiff
§ 79-29-1107. Stay of proceedings
§ 79-29-1111. Discontinuance or settlement
§ 79-29-1115. Applicability to foreign limited liability companies