Section 33-725 - Discontinuance or settlement.

CT Gen Stat § 33-725 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

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.

(P.A. 94-186, S. 80, 215.)

History: P.A. 94-186 effective January 1, 1997.