Iowa Code (Last Updated: December 05, 2016) |
Title XII. BUSINESS ENTITIES |
Chapter 490. BUSINESS CORPORATIONS |
Section 490.745. Discontinuance or settlement.
Latest version.
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A derivative proceeding shall 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.