2023 Florida Statutes
< Back to Statute SearchTitle XXXVI BUSINESS ORGANIZATIONS
Chapter 607
FLORIDA BUSINESS CORPORATION ACT
SECTION 0745Discontinuance or settlement; notice.
607.0745 Discontinuance or settlement; notice.—
(1) A derivative action on behalf of a corporation may not be discontinued or settled without the court’s approval.
(2) If the court determines that a proposed discontinuance or settlement will substantially affect the interest of the corporation’s shareholders or a class, series, or voting group of shareholders, the court shall direct that notice be given to the shareholders affected. The court may determine which party or parties to the derivative action shall bear the expense of giving the notice.
History.—s. 77, ch. 2019-90.