Indicates whether you want to keep files checked out when you check in or add them.
Keep_Checkedout = {Yes|No}
Instructs VSS not to check all files back out to you immediately after updating or adding them:
Keep_Checkedout = No
After you add or check in a file, you cannot immediately modify it, because it is no longer checked out. In some situations particularly on one-person projects you always want to have all the files checked out. In that case, set Keep_Checkedout to Yes, which instructs VSS to immediately check the file back out to you whenever you check in or add a file.
In VSS Explorer, Keep_Checkedout sets the default state of the Keep Checked Out box in the Check In dialog box, which you can toggle for specific cases. (On the command line, you can override this variable with the -K (or -K-) command-line option.)
You can also set this variable in your SS.INI file by using the Always Keep Files Checked Out option on the General tab in the SourceSafe Options dialog box.