Texas Business Organizations Code
Sec. § 101.460
Discontinuance or Settlement


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


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.
Last accessed
Oct. 14, 2020