South Dakota Codified Laws 47-1A-744.5. Appointment of panel to make determination–Burden of proof
Current as of: 2023 | Check for updates
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The court may appoint a panel of one or more independent persons upon motion by the corporation to make a determination whether the maintenance of the derivative proceeding is in the best interests of the corporation. In such case, the plaintiff has the burden of proving that the requirements of § 47-1A-744 have not been met.
Terms Used In South Dakota Codified Laws 47-1A-744.5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Proceeding: includes civil suit and criminal, administrative, and investigatory action. See South Dakota Codified Laws 47-1A-140
Source: SL 2005, ch 239, § 132.