Sec. 33-725. Discontinuance or settlement. - Connecticut Statutes

      Sec. 33-725. Discontinuance or settlement. 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.

      (P.A. 94-186, S. 80, 215.)

      History: P.A. 94-186 effective January 1, 1997.