A derivative proceeding shall not be discontinued or settled without the Superior Court’s approval. If the court determines that a proposed discontinuance or settlement will substantially affect the interests of the members or a class of members of the nonprofit corporation, the court shall direct that notice be given to the members affected.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
This section is referenced in § 29-411.08.
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Chapter 4 - Nonprofit Corporations
Subchapter XI - Derivative Proceedings
§ 29–411.04. Stay of proceedings
§ 29–411.06. Discontinuance or settlement
§ 29–411.07. Security for costs; payment of expenses