35-1-546. (Temporary) Discontinuance or settlement -- notice. 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. (Repealed effective June 1, 2020--secs. 269, 274, Ch. 271, L. 2019.)
History: En. Sec. 72, Ch. 368, L. 1991.
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