490.745 - DISCONTINUANCE OR SETTLEMENT. - Iowa Statutes

490.745 DISCONTINUANCE OR SETTLEMENT. 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.          Section History: Recent Form 2002 Acts, ch 1154, §28, 125 Referred to in § 490.747