21-280. Discontinuance or settlement.
51 words·~1 min read·
/ne/chapter-21/21-280A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(MBCA 7.45) 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 be given to the shareholders affected.