10-3635. Discontinuance or settlement
48 words·~1 min read·
/az/title-10/10-3635A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No derivative proceeding may 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 affected members.