A derivative action may not be dismissed or compromised without the approval of the court, and notice of the proposed dismissal or compromise shall be given to stockholders of the corporation in such manner as the court directs.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 2A - Alabama Business Corporation Law.
Division D - Derivative Proceedings.
Section 10A-2A-7.40 - Division Definitions.
Section 10A-2A-7.41 - Right of Derivative Action.
Section 10A-2A-7.42 - Standing.
Section 10A-2A-7.44 - Pleading.
Section 10A-2A-7.45 - Stay of Proceedings.
Section 10A-2A-7.46 - Discontinuance or Settlement.
Section 10A-2A-7.47 - Proceeds and Expenses.
Section 10A-2A-7.48 - Applicability to Foreign Corporations.