A derivative proceeding may 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 the corporation’s shareholders or a class of shareholders, the court shall direct that notice be given to the shareholders affected.
History. Code 1981, § 14-2-745 , enacted by Ga. L. 1988, p. 1070, § 1.
Law reviews.
For survey article on business associations, see 60 Mercer L. Rev. 35 (2008).
For article, “2008 Annual Review of Case Law Development,” see 14 (No. 6) Ga. St. B.J. 28 (2009).