79-29-1105 - Discontinuance or settlement. - Mississippi Statutes

§ 79-29-1105. 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 limited liability company's members or a class of members, the court shall direct that notice be given to the members affected. 
 

Sources: Laws,  1994, ch. 402, § 81, eff from and after July 1, 1994.