TITLE 30

CORPORATIONS

CHAPTER 29

GENERAL BUSINESS CORPORATIONS

PART 7

SHAREHOLDERS

30-29-745.  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 or series of shareholders, the court shall direct that notice be given to the shareholders affected.

History:

[30-29-745, added 2015, ch. 243, sec. 62, p. 926; am. 2019, ch. 90, sec. 69, p. 267.]