South Dakota Statutes
§ 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.
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South Dakota § 47-1A-744 (Dismissal upon determination that maintenance of proceeding not in best interests of corporation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2005, ch 239, § 127.
Nearby Sections
15
§ 47-1-1
Repealed§ 47-1-3
Repealed§ 47-10-1
Purposes of corporations.§ 47-10-10
Incorporators.§ 47-10-11
Directors--Number and term of office.§ 47-10-13
Accumulation of surplus--Use of surplus.§ 47-10-14
Persons authorized to hold common stock.§ 47-10-18
Nonstockholder members--Duty to lend.§ 47-10-2
Powers of corporations.