Mississippi Code, Vol. 18, Title 79

2013·85.5 MB·English

by  The People of Missisippi

a
TABLE OF CONTENTS
VOLUME 18
INAS: FAS
CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS
CHAP. BEGINNING
SECTION
General Provisions Relative to Corporations 79-1-1
Business Corporations [Repealed] 79-3-1
Mississippi Business Corporation Act 79-4-1.01
Business Development Corporations
Foreign Limited Liability Companies [Repealed]
Small Business Investment Companies
Professional Corporations [Repealed]
Mississippi Professional Corporation Act
e(0OP0Oa5Uer td Nonprofit, Nonshare Corporations and Religious
Societies
Partnerships [Repealed]
Uniform Partnership Act (1997) 79-13-101
Mississippi Limited Partnership Act 79-14-101
Investment Trusts 79-15-1
Mississippi Registration of Foreign Business Trusts Act... 79-16-1
Agricultural Associations; Conversion to Corporate Form . 79-17-1
Agricultural Cooperative Marketing Associations 79-19-1
Aquatic Products Marketing Associations 79-21-1
Mississippi Aquaculture Act of 1988 79-22-1
Commercial and Proprietary Information 79-23-1
Mississippi Shareholder Protection Act 79-25-1
Mississippi Control Share Act 79-27-1
Revised Mississippi Limited Liability Company Act 79-29-101
Mississippi Registration of Foreign Limited Liability
Partnerships Act [Repealed]
Corporate Successor Asbestos-Related Liability in
Connection with Mergers or Consolidations
The Mississippi Registered Agents Act
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MISSISSIPPI CODE
1972
ANNOTATED
ADOPTED AS THE OFFICIAL CODE OF THE
STATE OF MISSISSIPPI
BY THE
1972 SESSION OF THE LEGISLATURE
VOLUME EIGHTEEN
CORPORATIONS, ASSOCIATIONS,
AND PARTNERSHIPS
§§ 79-1-1 to 79-35-19
CONTAINING PERMANENT PUBLIC STATUTES OF MISSISSIPPI
TO THE END OF THE 2013 REGULAR LEGISLATIVE SESSION
AND THE 1ST AND 2ND EXTRAORDINARY LEGISLATIVE SESSIONS
@
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Copyright © 1973—2013
by
THE STATE OF MISSISSIPPI
All rights reserved.
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Inc. used under license. Matthew Bender is a registered trademark of Matthew Bender Properties
Inc.
4456213
ISBN 978-0-7698-6300-9 (Volume 18)
ISBN 978-0-327-09628-3 (Code set)
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PREFACE
The Mississippi Code of 1972, which became effective on November 1,
1973, is the culmination of nearly four years of effort on the part of the
Legislature, the Attorney General’s office and the publishers, which brings
together provisions of general statutory law having a common subject matter
into a more orderly and logical framework of code titles and chapters, and
employing a modern and effective section numbering system. A major by-
product of the code revision will be the state-owned magnetic computer tape
containing the Mississippi Code of 1972, which will be of invaluable assistance
to the Legislature and to the state.
The enabling act for the code was a recommendation of the Mississippi
State Bar, which resulted in the consideration and passage of Senate Bill 1964,
Chapter 465, Laws of 1970, signed into law by Governor John Bell Williams.
The Code Committee provided for in that act was comprised of A. F.
Summer, Attorney General, Heber Ladner, Secretary of State, Representative
Edgar J. Stephens, Jr., Chairman, House Appropriations Committee, Senator
William G. Burgin, Jr., Chairman, Senate Appropriations Committee, Repre-
sentative H. L. Meredith, Jr., Chairman, House Judiciary “A” and Judiciary en
banc Committees, Senator E. K. Collins, Chairman, Senate Judiciary “A” and
Judiciary en banc Committees, Representative Ney McKinley Gore, Jr.,
Chairman, House Judiciary “B” Committee, and Senator William E. Alexander,
Chairman, Senate Judiciary “B” Committee. In 1972, Representative Marby
Robert Penton and Senator Herman B. Decell, Chairman of House and Senate
Judiciary “B” Committees, respectively, became members of the Committee,
replacing Representative Gore and Senator Collins, Senator Alexander having
been appointed Chairman of Senate Judiciary “A” and Judiciary en banc
Committees. The Deputy Attorney General, Delos H. Burks, served the Code
Committee as Secretary. Special Assistant Attorney General Fred J. Lotterhos,
under the supervision of the Attorney General, was assigned the principal
responsibility for the supervision of the recodification, including the consider-
ation and treatment of some 16,000 sections of code manuscript.
Final legislative approval was given to the Mississippi Code of 1972 by
passage of Senate Bill 2034, Laws of 1972, which was signed by Governor
William L. Waller on April 26, 1972. A copy of that act is set out in Volume 1,
following the Publisher’s Foreword.
The Code Committee is of the opinion that the recodification has been
thoroughly and well accomplished, and will result in a greatly improved
repository of the general statutory law of the state.
A. F. SUMMER
ATTORNEY GENERAL
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PUBLISHER’S FOREWORD
This 2013 Replacement Volume 18 of the Mississippi Code of 1972
Annotated represents material appearing in the original 1973 bound volume,
the 1996 Replacement Volume 18 the 2001 Replacement Volume 18, the 2009
Replacement Volume 18, as well as reflecting amendments, repeals, and new
Code provisions enacted by the Mississippi Legislature through the 2013
Regular Session and the Ist and 2nd Extraordinary Legislative Sessions.
This volume contains the full text of Title 79, of the Mississippi Code of
1972 Annotated, as amended through the 2013 Regular Legislative Session
and the Ist and 2nd Extraordinary Legislative Sessions.
Case annotations are included based on decisions of the State and federal
courts in cases arising in Mississippi. Many of these cases were decided under
the former statutes in effect prior to the enactment of the Code of 1972. These
earlier cases have been moved to pertinent sections of the Code where they
may be useful in interpreting the current statutes. Annotations to collateral
research references are also included.
To better serve our customers by making our annotations more current,
LexisNexis has changed the sources that are read to create annotations for this
publication. Rather than waiting for cases to appear in printed reporters, we
now read court decisions as they are released by the courts. A consequence of
this more current reading of cases, as they are posted online on LexisNexis, is
that the most recent cases annotated may not yet have print reporter citations.
These will be provided, as they become available, through later publications.
This publication contains annotations taken from decisions of the Missis-
sippi Supreme Court and the Court of Appeals decisions and decisions of the
appropriate federal courts. These cases will be printed in the following
reporters:
Southern Reporter, 3rd Series
United States Supreme Court Reports
Supreme Court Reporter
United States Supreme Court Reports, Lawyers’ Edition, 2nd Series
Federal Reporter, 3rd Series
Federal Supplement, 2nd Series
Federal Rules Decisions
Bankruptcy Reporter
Additionally, annotations have been taken from the following sources:
American Law Reports, 6th
American Law Reports, Federal 2nd
Mississippi College Law Review
Mississippi Law Journal
Finally, published Opinions of the Attorney General and opinions of the
Ethics Commission have been examined for annotations.
PUBLISHER’S FOREWORD
A comprehensive Index appears at the end of this volume.
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For further information or assistance, please call us toll-free at (800)
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September 2013 LexisNexis
vi