504.636 - DISCONTINUANCE OR SETTLEMENT.
504.636 DISCONTINUANCE OR SETTLEMENT. A derivative proceeding shall 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 a corporation's member or class of members or director, the court shall direct that notice be given to the members or director affected.
Section History: Recent Form 2004 Acts, ch 1049, §51, 192 Referred to in § 504.638, 504.810