MS SB2483

Amends Section 79-4-2.02 of the Mississippi Code to add a new optional provision to articles of incorporation regarding venue for derivative proceedings and internal corporate claims.

Allows corporations to include in their articles of incorporation a provision requiring derivative proceedings and other claims based on director or officer duty violations to be brought in the appropriate court of the county where the corporation's principal office is located.

The new provision must be consistent with applicable law and jurisdictional requirements.

Defines "director" to include any person vested with the discretion or powers of a director under Section 79-4-7.32.

Effective July 1, 2016.