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Code · South Dakota · Title 47 · Chapter 47-1

47-1A-744. Dismissal upon determination that maintenance of proceeding not in best interests of corporation.

57 words·~1 min read·/sd/title-47/chapter-47-1/47-1a-744

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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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