SECTION 605.0806. Voluntary dismissal or settlement; notice.

Latest version.

1(1) 2A derivative action on behalf of a limited liability company may not be voluntarily dismissed or settled without the court’s approval.
23(2) 24If the court determines that a proposed voluntary dismissal or settlement will substantially affect the interest of the limited liability company’s members or a class, series, or voting group of members, the court shall direct that notice be given to the members affected. The court may determine which party or parties to the derivative action shall bear the expense of giving the notice.

History.-s. 2, ch. 2013-180.

Bills Cite this Section:

None

Cited by Court Cases:

None

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        var href = decodeURIComponent(window.location.href);
                        var url = decodeURIComponent(escape(href.split("#")[0]));
                        url = decodeURIComponent(escape(url.split(",")[0]));
                        art.dialog.defaults.title = url;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');