A derivative proceeding may not be discontinued or settled without the court's approval. If the court determines that a proposed discontinuance or settlement will substantially affect the interests of the corporation's members or a class of members, the court shall direct that notice be given to the members affected.
Section: Previous 14-3-740 14-3-741 14-3-742 14-3-743 14-3-744 14-3-745 14-3-746 14-3-747 NextLast modified: October 14, 2016