47-1A-745. Discontinuance or settlement.
49 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-745·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.