Code of Alabama - Title 10A: Alabama Business and Nonprofit Entities Code - Section 10A-5A-9.07 - Discontinuance or settlement

Section 10A-5A-9.07 - Discontinuance or settlement.

A derivative action may not be dismissed or compromised without the approval of the court, and notice of the proposed dismissal or compromise shall be given to members of the limited liability company or the members associated with the series of the limited liability company, as the case may be, in such manner as the court directs.

(Act 2014-144, p. 265, §1.)

Last modified: May 3, 2021