SECTION 607.0745. Discontinuance or settlement; notice.

Latest version.

1(1) 2A derivative action on behalf of a corporation may not be discontinued or settled without the court’s approval.
20(2) 21If the court determines that a proposed discontinuance or settlement will substantially affect the interest of the corporation’s shareholders or a class, series, or voting group of shareholders, the court shall direct that notice be given to the shareholders affected. The court may determine which party or parties to the derivative action shall bear the expense of giving the notice.

History.-s. 77, ch. 2019-90.

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Cited by Court Cases:

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