If the corporation commences an inquiry into the allegations made in the demand or complaint, the court may stay any derivative proceeding for such period as the court deems appropriate.
Structure Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 4 - Mississippi Business Corporation Act
§ 79-4-7.40. Meaning of "derivative proceeding", "shareholder" in subarticle
§ 79-4-7.41. Who may commence or maintain derivative proceeding
§ 79-4-7.42. Prerequisites to commencing derivative proceeding
§ 79-4-7.43. Stay of proceeding when corporation inquires into allegations
§ 79-4-7.45. Court approval for settlement or discontinuance
§ 79-4-7.46. Expenses and attorney fees
§ 79-4-7.47. Law applicable in derivative proceedings involving foreign corporations
§ 79-4-7.48. Shareholder action to appoint custodian or receiver