Section 7.45: Discontinuance or settlement
55 words·~1 min read·
/ma/part-i/title-xxii/chapter-156d/7-27·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 7.45. DISCONTINUANCE OR SETTLEMENT
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 shareholders or a class of shareholders, the court shall direct that notice to be given to the shareholders affected.