Texas Business Organizations Code
Sec. § 101.460
Discontinuance or Settlement


(a)

A derivative proceeding may not be discontinued or settled without court approval.

(b)

The court shall direct that notice be given to the affected members if the court determines that a proposed discontinuance or settlement may substantially affect the interests of other members.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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Last accessed
Nov. 18, 2019