reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 19 - BROADBAND EXPANSION AND ACCESSIBILITY OF MISSISSIPPI (BEAM) › Section 77-19-3 - Definitions

As used in this chapter:
(a)
"Applicant" means an eligible broadband service provider that has authorization to do business in this state and has demonstrated that it has the technical, financial and managerial resources and experience to provide broadband services in the state to retail end users.
(b)
"Broadband service" means a mass-market retail service by wire, cable, fiber, or radio provided to customers in the State of Mississippi that provides the capability to transmit data to, and receive data from, all or substantially all Internet endpoints, at speeds of at least one hundred (100) megabits per second downstream and twenty (20) megabits per second upstream, and including, but not limited to, any capabilities that are incidental to and enable the operation of communications service, but excluding dial-up Internet access service.
(c)
"Office" means the Office of Broadband Expansion and Accessibility of Mississippi (BEAM) within the Department of Finance and Administration created in Section
77-19-5
.
(d)
"Deployed" means, with respect to availability of broadband service at a location, when the person or entity has access regardless of whether a person or entity subscribes to the broadband service at the location.
(e)
"Eligible broadband service provider" means any company, firm, corporation, limited liability company, partnership or association (i) that has been providing broadband service to at least one hundred (100) residences and businesses in Mississippi for at least three (3) consecutive years; (ii) is an electric power association's broadband affiliate operating pursuant to Section
77-17-1
et seq.; or (iii) that has demonstrated financial, technical, and operational capability in building and operating a broadband network.
(f)
"Eligible project" means a discrete and specific project located in an unserved or underserved area of the state seeking to provide broadband services to residences, businesses, and community institutions not currently available for service in accordance with the applicable federal guidelines.
(g)
"Shapefile" means a digital storage format containing geospatial or location-based data and attribute information regarding the availability of broadband Internet access service, and that can be viewed, edited, and mapped in geographic information system software.
Added by Laws, 2022, ch. 397, HB 1029,§ 2, eff. 4/14/2022.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 19 - BROADBAND EXPANSION AND ACCESSIBILITY OF MISSISSIPPI (BEAM) › Section 77-19-5 - Office of Broadband Expansion and Accessibility of Mississippi (BEAM)

There is created an Office of Broadband Expansion and Accessibility of Mississippi (BEAM) within the Department of Finance and Administration for the purpose of making determinations and awards from applications for projects to provide broadband service in unserved or underserved areas using the Broadband Expansion and Accessibility of Mississippi (BEAM) Fund created pursuant to Section
77-19-7
. The Executive Director of the Department of Finance and Administration shall hire a Director of BEAM to administer the office.
Added by Laws, 2022, ch. 397, HB 1029,§ 3, eff. 4/14/2022.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 19 - BROADBAND EXPANSION AND ACCESSIBILITY OF MISSISSIPPI (BEAM) › Section 77-19-9 - Considerations when making determinations and awards

In making determinations and awards, the Office of Broadband Expansion and Accessibility of Mississippi (BEAM) shall consider the following:
(a)
Funds for the grant programs shall only be used by applicants for projects that exclusively extend broadband service into unserved or underserved areas in this state; and
(b)
Funds from federal broadband grant programs shall be spent in accordance with federal laws, rules, regulations and guidance, and federal laws, rules, regulations and guidance shall supersede in any instance where this chapter conflicts.
Added by Laws, 2022, ch. 397, HB 1029,§ 5, eff. 4/14/2022.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 19 - BROADBAND EXPANSION AND ACCESSIBILITY OF MISSISSIPPI (BEAM) › Section 77-19-11 - Criteria for awarding funds

The criteria for determining the awarding of funds shall include the following:
(a)
The applicant's experience and financial wherewithal to deploy, operate and manage the proposed project and broadband service offerings, including evidence of the applicant's successful operations of broadband services to retail end users;
(b)
The readiness to build, operate and maintain the project;
(c)
Projects that will deploy broadband service to the most unserved or underserved areas;
(d)
The scalability of the proposed project network to support the deployment of higher broadband speeds over time;
(e)
The likelihood that the unserved or underserved area will not be served with broadband service without such state or federal grant funding;
(f)
The applicant's ability to demonstrate the community's support for the project and a collaborated plan to leverage broadband services for community needs and economic development, such as rural development, education, tourism, new investment, or business attraction or retention;
(g)
A preference for those applications seeking to deploy and provide broadband services to areas in which there is currently no fixed terrestrial Internet access service available;
(h)
No discrimination or preference to applications on the basis of the type of technology proposed by any applicant to be used to provide broadband services so long as the technology proposed meets the federal guidelines;
(i)
The size and scope of the unserved or underserved area to be deployed; and
(j)
The broadband service speed thresholds proposed in the application and the scalability of the broadband service network infrastructure proposed to be deployed to provide broadband service to households and businesses.
Added by Laws, 2022, ch. 397, HB 1029,§ 6, eff. 4/14/2022.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 19 - BROADBAND EXPANSION AND ACCESSIBILITY OF MISSISSIPPI (BEAM) › Section 77-19-13 - Office of Broadband Expansion and Accessibility of Mississippi to publish on website criteria for competitively scoring applications

In accordance with federal laws, rules, regulations and guidance, the Office of Broadband Expansion and Accessibility of Mississippi (BEAM) shall establish and publish on its website its criteria for competitively scoring applications.
Added by Laws, 2022, ch. 397, HB 1029,§ 7, eff. 4/14/2022.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 19 - BROADBAND EXPANSION AND ACCESSIBILITY OF MISSISSIPPI (BEAM) › Section 77-19-17 - Notification before distribution of BEAM Fund grant monies; employment of persons or contract for certain services

(1)
Before the distribution of any grant monies from the BEAM Fund, BEAM shall notify the Lieutenant Governor, the Speaker of the House of Representatives and the Legislative Budget Office of the planned distribution.
(2)
BEAM may employ the services of such persons as the Director of BEAM considers necessary for the purposes of consultation or investigation and fix the salaries of or contract for the services of such legal, professional, technical and operational personnel and consultants, subject to applicable provisions of the State Personnel Board. Additional legal assistance may be retained in accordance with this subsection (2) only with the approval of the Attorney General.
(3)
BEAM shall provide to the Legislature an annual detailed report on the status and details of all projects considered and approved under this chapter no later than December 15 of each year.
Added by Laws, 2022, ch. 397, HB 1029,§ 9, eff. 4/14/2022.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter NEW - [CONSUMER FREEDOM OF CHOICE IN APPLIANCES ACT] (§§ 77-NEW-NEW-001 — 77-NEW-NEW-004) › Section 77-NEW-NEW-001 - [Newly enacted section not yet numbered] [Short title]

This act shall be known and may be cited as the Consumer Freedom of Choice in Appliances Act.
Added by Laws, 2024, ch. 369, HB 1583,§ 1, eff. 7/1/2024.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter NEW - [CONSUMER FREEDOM OF CHOICE IN APPLIANCES ACT] (§§ 77-NEW-NEW-001 — 77-NEW-NEW-004) › Section 77-NEW-NEW-002 - [Newly enacted section not yet numbered] [Definitions]

For purposes of this section, the following terms shall be defined as follows, unless the context clearly indicates otherwise:
(a)
"Governmental entity" means any agency, department, institution, instrumentality, or political subdivision of the State of Mississippi, or any agency, department, institution of a political subdivision.
(b)
"Utility service" means electrical, natural gas, or liquified petroleum (L.P.) gas service provided to an end user.
(c)
"Appliance" means a device or apparatus which uses a utility service for its energy operating requirements and has been manufactured and designed to perform a specific task in a domestic or household setting or manufactured and designed to perform similar functions in a commercial or industrial setting. The term "appliance" includes a device used for cooking, space heating, water heating, or another end use.
Added by Laws, 2024, ch. 369, HB 1583,§ 2, eff. 7/1/2024.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter NEW - [CONSUMER FREEDOM OF CHOICE IN APPLIANCES ACT] (§§ 77-NEW-NEW-001 — 77-NEW-NEW-004) › Section 77-NEW-NEW-003 - [Newly enacted section not yet numbered] [Governmental restrictions or prohibitions on use of appliances]

A governmental entity shall not enact or enforce any resolution, ordinance, regulation, rule, code, or policy to take any action that restricts or prohibits, or has the effect of restricting or prohibiting, any person or entity from using any appliance based on the type of utility service required to operate the appliance.
Added by Laws, 2024, ch. 369, HB 1583,§ 3, eff. 7/1/2024.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter NEW - [CONSUMER FREEDOM OF CHOICE IN APPLIANCES ACT] (§§ 77-NEW-NEW-001 — 77-NEW-NEW-004) › Section 77-NEW-NEW-004 - [Newly enacted section not yet numbered] [Construction of act]

Nothing in this act shall be construed as affecting a governmental entity's authority to do the following:
(a)
Require that utility services necessary to operate an appliance be obtained from a provider that is authorized to do business in the location.
(b)
Prohibit the usage of any appliance for an illegal purpose.
(c)
Exercise existing police powers to review and approve an application before building permits, or to otherwise enforce building, fire, and other public safety codes or subdivision regulations. However, no governmental entity may deny a building permit or subdivision regulation application based solely on the type of appliance and/or utility service proposed for the project.
Added by Laws, 2024, ch. 369, HB 1583,§ 4, eff. 7/1/2024.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-1 - Automatic extension of corporate charters for certain corporations under certain circumstances

(1)
(a)
If a business corporation was created (i) for a limited period of existence, and (ii) before April 18, 1988, the life of the business corporation shall be perpetual if the business corporation continues to do business for thirty (30) days after March 14, 2011.
(b)
If a nonprofit corporation was created (i) for a limited period of existence, and (ii) before January 1, 1988, the life of the nonprofit corporation shall be perpetual if the nonprofit corporation continues to do business for thirty (30) days after March 14, 2011.
(2)
If a business or nonprofit corporation (a) has a limited period of existence that expired before March 14, 2011, and (b) the business or nonprofit corporation continues to do business for thirty (30) days after March 14, 2011, the life of that corporation shall be perpetual. The corporation's charter and articles of incorporation shall be deemed to have been automatically amended before the end of the limited period of existence to state that the corporation's life shall be perpetual. No further action on the part of the corporation is necessary to execute the provisions of this subsection.
(3)
Any corporation may, after March 14, 2011, amend its articles of incorporation to provide for a limited period of existence.
Codes, 1942, § 5325.5; Laws, 1950, ch. 308, §§ 3, 4; Laws, 1956, ch. 174, § 1; Laws, 2011, ch. 391, § 1, eff. 3/14/2011.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-3 - Gifts and donations

In addition to all other powers granted by law, every corporation organized or existing under the laws of this state shall have power, from its earnings, to make gifts, donations, or contributions for the public welfare or for charitable, scientific, religious, or educational purposes, which gifts, donations, or contributions shall be charged by such corporation to operating expenses. The specific grant of such power by this section shall not be construed as raising any presumption or implication that such power has not heretofore existed.
Codes, 1942, § 5325.7; Laws, 1952, ch 227.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-5 - Execution of proxies by fiduciary without order or direction of court

Without obtaining the order or direction of any court or the judge thereof, in vacation, any fiduciary, including those acting as executor, administrator, guardian, agent or trustee, owning corporate stock registered in the name of the fiduciary, as such, or in the name of another for the convenience of the fiduciary, or in the names of more than one fiduciary, whether the corporation issuing such stock is foreign or domestic, may, in addition to the voting rights now vested in such fiduciary, execute and deliver, or cause to be executed and delivered, a proxy or proxies to others for the voting of such corporate stock, and may waive notice of and give consent to any meeting of stockholders of any corporation, regular or special, or a meeting of property owners, or cause such to be done, and may authorize in writing any action which could be taken by stockholders in meeting assembled, where such consent is authorized by statute, charter or certificate of incorporation, or bylaws, or cause such written consent to be given, but subject always to the following limitations:
(a)
In granting any proxy, reasonable care must be exercised in deciding who shall act as proxy and whether or not instructions as to the voting of said stock shall be given to such proxy.
(b)
If there are two or more fiduciaries acting, the proxy shall be executed by, and voting instructions shall be issued by, agreement of all fiduciaries or a majority of them.
(c)
In the event the manner or method of voting, or the purposes to be accomplished, are fixed by the instrument or instruments appointing said fiduciaries, the directions contained therein shall govern.
Codes, 1942, § 5326.5; Laws, 1956, ch. 178.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-7 - Defective organization not a defense

It shall not be a defense to any suit against a corporation that there was a defect or informality in its organization.
Codes, 1892, § 841; 1906, § 906; Hemingway's 1917, § 4078; 1930, § 4154; 1942, § 5333.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-9 - Social, civil and political rights of employees protected

Any corporation doing business in this state shall be liable to a penalty of Two Hundred Fifty Dollars ($250.00) for every unlawful interference with the social, civil, or political rights of any of its agents or employees, and the same may be recovered by suit, to be brought by the injured party.
Codes, 1892, § 840; 1906, § 905; Hemingway's 1917, § 4077; 1930, § 4156; 1942, § 5335.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-11 - May execute bond in suits

Any corporation, under the signature of its president or other authorized officer, agent, or attorney, may execute, without affixing the corporate seal, all bonds which shall be necessary at the commencement or during the progress of any case to a final determination, and such bonds shall be binding on the corporation.
Codes, 1857, ch. 35, art. 7; 1871, § 2411; 1880, § 1035; 1892, § 842; 1906, § 907; Hemingway's 1917, § 4079; 1930, § 4157; 1942, § 5336.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-13 - Property and franchise of corporation salable under judgment

When judgment shall be rendered against any corporation, all its property, real and personal, and its franchise shall be liable to be seized and sold in satisfaction thereof; and the sale shall vest the title to the franchise in the purchaser, with all privileges and immunities; and the officer making the sale shall immediately put him in possession; and the purchaser may recover any penalties imposed for injuries to the franchise, and shall also discharge all the duties imposed by the charter on the corporate body, and be liable to like penalties as the original stockholders which may accrue after his purchase of the franchise.
Codes, 1857, ch. 35, art. 10; 1871, § 2414; 1880, § 1038; 1892, § 845; 1906, § 910; Hemingway's 1917, § 4082; 1930, § 4158; 1942, § 5337.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-15 - Franchise redeemable within six months

Those persons who were stockholders at the time of the sale of the franchise of a corporation may redeem the franchise which has been sold under execution at any time within six (6) months from the date of sale, by paying or tendering to the purchaser the amount paid by him, with ten per centum thereon; but shall not be entitled to any allowance for the profits received by the purchaser in the meantime.
Codes, 1857, ch. 35, art. 11; 1871, § 2415; 1880, § 1039; 1892, § 846; 1906, § 911; Hemingway's 1917, § 4083; 1930, § 4159; 1942, § 5338.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-17 - On dissolution, assets vested in stockholders

On the dissolution of any corporation, either by judgment or otherwise, all its real and personal estate shall be vested in the stockholders therein, in their respective proportions, who shall hold the same as tenants in common; but this section shall not extend to any property except that which the corporation might lawfully have held without forfeiting the same to the state. Debts due to and from the corporation shall not be extinguished by its dissolution, but debts due from the corporation shall be a charge upon its property.
Codes, 1857, ch. 35, art. 21; 1880, § 1040; 1892, § 847; 1906, § 912; Hemingway's 1917, § 4084; 1930, § 4172; 1942, § 5354.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-19 - through 79-1-27 - [Repealed]

Repealed by Laws, 1987, ch. 486, § 17.05, eff. 1/1/1988.
Codes, 1906, §§ 915, 917-919; Hemingway's 1917, §§ 4089, 4091-4093; 1930, §§ 4160, 4162, 4163, 4166; 1942, §§ 5339, 5341, 5342, 5345; Laws, 1908, ch. 123.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-29 - [Repealed]

Repealed by Laws, 1991, ch. 573, § 141, eff. 7/1/1991.
Codes, 1906, § 920; Hemingway's 1917, § 4094; 1930, § 4167; 1942, § 5346; Laws, 1908, ch. 123; repealed, Laws, 1987, ch. 486, § 17.05, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 1 - GENERAL PROVISIONS RELATIVE TO CORPORATIONS (§§ 79-1-1 — 79-1-31) › Section 79-1-31 - Extent of the chapter

The provisions of this chapter, when not limited by their terms, shall apply to all corporations whatever, where the subject matter is not elsewhere prescribed.
Codes, 1892, § 860; 1906, § 937; Hemingway's 1917, § 4115; 1930, § 4177; 1942, § 5359.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle A - SHORT TITLE AND RESERVATION OF POWER (§§ 79-4-1.01 — 79-4-1.02) › Section 79-4-1.01 - Short title

Sections
79-4-1.01
et seq. shall be known and may be cited as the "Mississippi Business Corporation Act."
Laws, 1987, ch. 486, § 1.01, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle A - SHORT TITLE AND RESERVATION OF POWER (§§ 79-4-1.01 — 79-4-1.02) › Section 79-4-1.02 - Reservation of power to amend or repeal

The Mississippi Legislature has power to amend or repeal all or part of Sections
79-4-1.01
et seq. at any time and all domestic and foreign corporations subject to Sections
79-4-1.01
et seq. are governed by the amendment or repeal.
Laws, 1987, ch. 486, § 1.02, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle B - FILING DOCUMENTS (§§ 79-4-1.20 — 79-4-1.29) › Section 79-4-1.21 - Forms

(a)
The Secretary of State may prescribe and furnish on request forms for:
(1)
an application for a certificate of existence,
(2)
a foreign corporation's application for a certificate of authority to transact business in this state,
(3)
a foreign corporation's application for a certificate of withdrawal and
(4)
the annual report. If the Secretary of State so requires, use of these forms is mandatory.
(b)
The Secretary of State may prescribe and furnish on request forms for other documents required or permitted to be filed by Sections
79-4-1.01
et seq. but their use is not mandatory.
Laws, 1987, ch. 486, § 1.21, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle B - FILING DOCUMENTS (§§ 79-4-1.20 — 79-4-1.29) › Section 79-4-1.23 - Effective time and date of document

(a)
Except as provided in subsection (b) and Section
79-4-1.24(c)
, a document accepted for filing is effective:
(1)
At the date and time of filing, as evidenced by such means as the Secretary of State may use for the purpose of recording the date and time of filing; or
(2)
At the time specified in the document as its effective time on the date it is filed.
(b)
A document may specify a delayed effective time and date, and if it does so the document becomes effective at the time and date specified. If a delayed effective date but no time is specified, the document is effective at the close of business on that date. A delayed effective date for a document may not be later than the ninetieth day after the date it is filed.
(c)
Notwithstanding subsections (a) and (b) of this section, any document that has a delayed effective time and date shall not become effective if, prior to the effective time and date, a statement of withdrawal is filed with the Secretary of State.
Laws, 1987, ch. 486, § 1.23; Laws, 1994, ch. 417 § 5; Laws, 1997, ch. 418, § 2, eff. 7/1/1997.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle B - FILING DOCUMENTS (§§ 79-4-1.20 — 79-4-1.29) › Section 79-4-1.24 - Correcting filed document

(a)
A domestic or foreign corporation may correct a document filed by the Secretary of State if (1) the document contains an inaccuracy, or (2) the document was defectively executed, attested, sealed, verified or acknowledged, or (3) the electronic transmission was defective.
(b)
A document is corrected:
(1)
By preparing articles of correction that (i) describe the document (including its filing date) or attach a copy of it to the articles, (ii) specify the inaccuracy or defect to be corrected, and (iii) correct the inaccuracy or defect; and
(2)
By delivering the articles to the Secretary of State for filing.
(c)
Articles of correction are effective on the effective date of the document they correct except as to persons relying on the uncorrected document and adversely affected by the correction. As to those persons, articles of correction are effective when filed.
Laws, 1987, ch. 486, § 1.24; Laws, 1997, ch. 418, § 3, eff. 7/1/1997.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle B - FILING DOCUMENTS (§§ 79-4-1.20 — 79-4-1.29) › Section 79-4-1.25 - Duty of Secretary of State

(a)
If a document delivered to the Office of the Secretary of State for filing satisfies the requirements of Section
79-4-1.20
, the Secretary of State shall file it.
(b)
The Secretary of State files a document by recording it as filed on the date and time of receipt. After filing a document, the Secretary of State shall deliver to the domestic or foreign corporation or its representative a copy of the document with an acknowledgment of the date and time of filing.
(c)
If the Secretary of State refuses to file a document, he shall return it to the domestic or foreign corporation or its representative within ten (10) days after the document was delivered, together with a brief, written explanation of the reason for his refusal.
(d)
The Secretary of State's duty to file documents under this section is ministerial. His filing or refusing to file a document does not:
(1)
Affect the validity or invalidity of the document, in whole or in part;
(2)
Relate to the correctness or incorrectness of information contained in the document;
(3)
Create a presumption that the document is valid or invalid or that information contained in the document is correct or incorrect.
Laws, 1987, ch. 486, § 1.25; Laws, 1997, ch. 418, § 4; Laws, 2012, ch. 382, § 22; Laws, 2012, ch. 481, § 2, eff. 1/1/2013.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle B - FILING DOCUMENTS (§§ 79-4-1.20 — 79-4-1.29) › Section 79-4-1.26 - Appeal from Secretary of State's refusal to file document

(a)
If the Secretary of State refuses to file a document delivered to his office for filing, the domestic or foreign corporation may appeal the refusal to the chancery court of the county where the corporation's principal office is or will be located, or the Chancery Court of the First Judicial District of Hinds County, Mississippi, if the corporation does not have a principal office in this state. The appeal is commenced by petitioning the court to compel filing the document and by attaching to the petition the document and the Secretary of State's explanation of his refusal to file.
(b)
The court may summarily order the Secretary of State to file the document or take other action the court considers appropriate.
(c)
The court's final decision may be appealed as in other civil proceedings.
Laws, 1987, ch. 486, § 1.26; Laws, 2012, ch. 382, § 23, eff. 1/1/2013.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle B - FILING DOCUMENTS (§§ 79-4-1.20 — 79-4-1.29) › Section 79-4-1.27 - Evidentiary effect of copy of filed document

A certificate from the Secretary of State delivered with a copy of the document filed by the Secretary of State, is conclusive evidence that the original document is on file with the Secretary of State.
Laws, 1987, ch. 486, § 1.27; Laws, 1997, ch. 418, § 5, eff. 7/1/1997.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle B - FILING DOCUMENTS (§§ 79-4-1.20 — 79-4-1.29) › Section 79-4-1.28 - Certificate of existence

(a)
Anyone may apply to the Secretary of State to furnish a certificate of existence for a domestic corporation or a certificate of authorization for a foreign corporation.
(b)
A certificate of existence or authorization sets forth:
(1)
The domestic corporation's corporate name or the foreign corporation's corporate name used in this state;
(2)
That (i) the domestic corporation is duly incorporated under the law of this state, the date of its incorporation and the period of its duration, if less than perpetual; or (ii) that the foreign corporation is authorized to transact business in this state;
(3)
That all fees, taxes and penalties owed to this state have been paid, if (i) payment is reflected in the records of the Secretary of State; and (ii) nonpayment affects the existence or authorization of the domestic or foreign corporation;
(4)
That its most recent annual report required by Section
79-4-16.22
has been delivered to the Secretary of State;
(5)
That articles of dissolution have not been filed; and
(6)
Other facts of record in the office of the Secretary of State that may be requested by the applicant.
(c)
Subject to any qualification stated in the certificate, a certificate of existence or authorization issued by the Secretary of State may be relied upon as conclusive evidence that the domestic or foreign corporation is in existence or is authorized to transact business in this state.
Laws, 1987, ch. 486, § 1.28, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle B - FILING DOCUMENTS (§§ 79-4-1.20 — 79-4-1.29) › Section 79-4-1.29 - Penalty for signing false document

(a)
A person commits an offense if he signs a document he knows is false in any material respect with intent that the document be delivered to the Secretary of State for filing.
(b)
An offense under this section is a misdemeanor punishable by a fine of not to exceed One Thousand Dollars ($1,000.00).
Laws, 1987, ch. 486, § 1.29; Laws, 2012, ch. 481, § 3, eff. 1/1/2013.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle C - SECRETARY OF STATE (§ 79-4-1.30) › Section 79-4-1.30 - Powers

The Secretary of State has the power reasonably necessary to perform the duties required of him by Sections
79-4-1.01
et seq.
Laws, 1987, ch. 486, § 1.30, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle D - DEFINITIONS (§§ 79-4-1.40 — 79-4-1.44) › Section 79-4-1.42 - Number of shareholders

(a)
For purposes of Sections
79-4-1.01
et seq., the following identified as a shareholder in a corporation's current record of shareholders constitutes one (1) shareholder:
(1)
Three (3) or fewer co-owners;
(2)
A corporation, partnership, trust, estate or other entity;
(3)
The trustees, guardians, custodians or other fiduciaries of a single trust, estate or account.
(b)
For purposes of Sections
79-4-1.01
et seq., shareholdings registered in substantially similar names constitute one (1) shareholder if it is reasonable to believe that the names represent the same person.
Laws, 1987, ch. 486, § 1.42, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle D - DEFINITIONS (§§ 79-4-1.40 — 79-4-1.44) › Section 79-4-1.43 - Qualified director

(a)
A "qualified director" is a director who, at the time action is to be taken under:
(1)
Section
79-4-7.44
, does not have (i) a material interest in the outcome of the proceeding, or (ii) a material relationship with a person who has such an interest;
(2)
Section
79-4-8.53
or
79-4-8.55
, (i) is not a party to the proceeding, (ii) is not a director as to whom a transaction is a director's conflicting interest transaction or who sought a disclaimer of the corporation's interest in a business opportunity under Section
79-4-8.70
, which transaction or disclaimer is challenged in the proceeding, and (iii) does not have a material relationship with a director described in either clause (i) or clause (ii) of this subsection (a)(2);
(3)
Section
79-4-8.62
, is not a director (i) as to whom the transaction is a director's conflicting interest transaction, or (ii) who has a material relationship with another director as to whom the transaction is a director's conflicting interest transaction; or
(4)
Section
79-4-8.70
, would be a qualified director under subsection (a)(3) if the business opportunity were a director's conflicting interest transaction.
(b)
For purposes of this section:
(1)
"Material relationship" means a familial, financial, professional, employment or other relationship that would reasonably be expected to impair the objectivity of the director's judgment when participating in the action to be taken; and
(2)
"Material interest" means an actual or potential benefit or detriment (other than one which would devolve on the corporation or the shareholders generally) that would reasonably be expected to impair the objectivity of the director's judgment when participating in the action to be taken.
(c)
The presence of one or more of the following circumstances shall not automatically prevent a director from being a qualified director:
(1)
Nomination or election of the director to the current board by any director who is not a qualified director with respect to the matter (or by any person that has a material relationship with that director), acting alone or participating with others;
(2)
Service as a director of another corporation of which a director who is not a qualified director with respect to the matter (or any individual who has a material relationship with that director), is or was also a director; or
(3)
With respect to action to be taken under Section
79-4-7.44
, status as a named defendant, as a director against whom action is demanded, or as a director who approved the conduct being challenged.
Laws, 2006, ch. 429, § 2, eff. 7/1/2006.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle D - DEFINITIONS (§§ 79-4-1.40 — 79-4-1.44) › Section 79-4-1.44 - Householding

(a)
A corporation has delivered written notice or any other report or statement under this chapter, the articles of incorporation or the bylaws to any shareholders who share a common address if:
(1)
The corporation delivers one (1) copy of the notice, report or statement to the common address;
(2)
The corporation addresses the notice, report or statement to those shareholders either as a group or to each of those shareholders individually or to the shareholders in a form to which each of those shareholders has consented; and
(3)
Each of those shareholders consents to delivery of a single copy of such notice, report or statement to the shareholders' common address.
Any such consent shall be revocable by any of such shareholders who deliver written notice of revocation to the corporation. If such written notice of revocation is delivered, the corporation shall begin providing individual notices, reports or other statements to the revoking shareholder no later than thirty (30) days after delivery of the written notice of revocation.
(b)
Any shareholder who fails to object by written notice to the corporation, within sixty (60) days of written notice by the corporation of its intention to send single copies of notices, reports or statements to shareholders who share a common address as permitted by subsection (a), shall be deemed to have consented to receiving such single copy at the common address.
Laws, 2007, ch. 361, § 3, eff. 7/1/2007.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 1 - GENERAL PROVISIONS (§§ 79-4-1.01 — 79-4-1.50) › Subarticle E - RECORDING OF ARTICLES OF INCORPORATION (§ 79-4-1.50) › Section 79-4-1.50 - [Repealed]

Repealed by Laws, 1988, ch. 368, § 13, eff. 4/18/1988.
Laws, 1987, ch. 486, § 1.50.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 2 - INCORPORATION (§§ 79-4-2.01 — 79-4-2.07) › Section 79-4-2.01 - Incorporators

One or more persons may act as the incorporator or incorporators of a corporation by delivering articles of incorporation to the Secretary of State for filing.
Laws, 1987, ch. 486, § 201, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 2 - INCORPORATION (§§ 79-4-2.01 — 79-4-2.07) › Section 79-4-2.03 - Incorporation

(a)
Unless a delayed effective date is specified, the corporate existence begins when the articles of incorporation are filed.
(b)
The Secretary of State's filing of the articles of incorporation is conclusive proof that the incorporators satisfied all conditions precedent to incorporation except in a proceeding by the state to cancel or revoke the incorporation or involuntarily dissolve the corporation.
Laws, 1987, ch. 486, § 2.03, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 2 - INCORPORATION (§§ 79-4-2.01 — 79-4-2.07) › Section 79-4-2.04 - Liability of preincorporation transactions

All persons purporting to act as or on behalf of a corporation, knowing there was no incorporation under Sections
79-4-1.01
et seq., are jointly and severally liable for all liabilities created while so acting.
Laws, 1987, ch. 486, § 2.04, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 2 - INCORPORATION (§§ 79-4-2.01 — 79-4-2.07) › Section 79-4-2.05 - Organization of corporation

(a)
After incorporation:
(1)
If initial directors are named in the articles of incorporation, the initial directors shall hold an organizational meeting, at the call of a majority of the directors, to complete the organization of the corporation by appointing officers, adopting bylaws and carrying on any other business brought before the meeting.
(2)
If initial directors are not named in the articles, the incorporator or incorporators shall hold an organizational meeting at the call of a majority of the incorporators:
(i)
To elect directors and complete the organization of the corporation; or
(ii)
To elect a board of directors who shall complete the organization of the corporation.
(b)
Action required or permitted by Sections
79-4-1.01
et seq. to be taken by incorporators at an organizational meeting may be taken without a meeting if the action taken is evidenced by one or more written consents describing the action taken and signed by each incorporator.
(c)
An organizational meeting may be held in or out of this state.
Laws, 1987, ch. 486, § 2.05, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 2 - INCORPORATION (§§ 79-4-2.01 — 79-4-2.07) › Section 79-4-2.06 - Bylaws

(a)
The incorporators or board of directors of a corporation shall adopt initial bylaws for the corporation.
(b)
The bylaws of a corporation may contain any provision for managing the business and regulating the affairs of the corporation that is not inconsistent with law or the articles of incorporation.
Laws, 1987, ch. 486, § 2.06, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 2 - INCORPORATION (§§ 79-4-2.01 — 79-4-2.07) › Section 79-4-2.07 - Emergency bylaws

(a)
Unless the articles of incorporation provide otherwise, the board of directors of a corporation may adopt bylaws to be effective only in an emergency defined in subsection (d). The emergency bylaws, which are subject to amendment or repeal by the shareholders, may make all provisions necessary for managing the corporation during the emergency, including:
(1)
Procedures for calling a meeting of the board of directors;
(2)
Quorum requirements for the meeting; and
(3)
Designation of additional or substitute directors.
(b)
All provisions of the regular bylaws consistent with the emergency bylaws remain effective during the emergency. The emergency bylaws are not effective after the emergency ends.
(c)
Corporate action taken in good faith in accordance with the emergency bylaws:
(1)
Binds the corporation; and
(2)
May not be used to impose liability on a corporate director, officer, employee or agent.
(d)
An emergency exists for purposes of this section if a quorum of the corporation's directors cannot readily be assembled because of some catastrophic event.
Laws, 1987, ch. 486, § 207; Laws, 1988, ch. 368, § 1, eff. 4/18/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 3 - PURPOSES AND POWERS (§§ 79-4-3.01 — 79-4-3.04) › Section 79-4-3.01 - Purposes

(a)
Every corporation incorporated under Sections
79-4-1.01
et seq. has the purpose of engaging in any lawful business unless a more limited purpose is set forth in the articles of incorporation.
(b)
A corporation engaging in a business that is subject to regulation under another statute of this state may incorporate under Sections
79-4-1.01
et seq. only if permitted by, and subject to all limitations of the other statute.
Laws, 1987, ch. 486, § 301, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 3 - PURPOSES AND POWERS (§§ 79-4-3.01 — 79-4-3.04) › Section 79-4-3.03 - Emergency powers

(a)
In anticipation of or during an emergency defined in subsection (d), the board of directors of a corporation may:
(1)
Modify lines of succession to accommodate the incapacity of any director, officer, employee or agent; and
(2)
Relocate the principal office, designate alternative principal offices or regional offices, or authorize the officers to do so.
(b)
During an emergency defined in subsection (d), unless emergency bylaws provide otherwise:
(1)
Notice of a meeting of the board of directors need be given only to those directors whom it is practicable to reach and may be given in any practicable manner, including by publication and radio; and
(2)
One or more officers of the corporation present at a meeting of the board of directors may be deemed to be directors for the meeting, in order of rank and within the same rank in order of seniority, as necessary to achieve a quorum.
(c)
Corporate action taken in good faith during an emergency under this section to further the ordinary business affairs of the corporation:
(1)
Binds the corporation; and
(2)
May not be used to impose liability on a corporate director, officer, employee or agent.
(d)
An emergency exists for purposes of this section if a quorum of the corporation's directors cannot readily be assembled because of some catastrophic event.
Laws, 1987, ch. 486, § 3.03; Laws, 1988, ch. 368, § 3, eff. 4/18/1988.
Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 4 - MISSISSIPPI BUSINESS CORPORATION ACT (§§ 79-4-1.01 — 79-4-17.05) › Article 3 - PURPOSES AND POWERS (§§ 79-4-3.01 — 79-4-3.04) › Section 79-4-3.04 - Ultra Vires

(a)
Except as provided in subsection (b), the validity of corporate action may not be challenged on the ground that the corporation lacks or lacked power to act.
(b)
A corporation's power to act may be challenged:
(1)
In a proceeding by a shareholder against the corporation to enjoin the act;
(2)
In a proceeding by the corporation, directly, derivatively or through a receiver, trustee or other legal representative, against an incumbent or former director, officer, employee or agent of the corporation; or
(3)
In a proceeding by the Attorney General under Section
79-4-14.30
.
(c)
In a shareholder's proceeding under subsection (b)(1) to enjoin an unauthorized corporate act, the court may enjoin or set aside the act, if equitable and if all affected persons are parties to the proceeding, and may award damages for loss (other than anticipated profits) suffered by the corporation or another party because of enjoining the unauthorized act.
Laws, 1987, ch. 486, § 3.04, eff. 1/1/1988.