Discontinuance or settlement

  1. Law
  2. District of Columbia Code
  3. Business Organizations. [Enacted title]
  4. Nonprofit Corporations
  5. Derivative Proceedings
  6. Discontinuance or settlement

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A derivative proceeding shall not be discontinued or settled without the Superior Court’s approval. If the court determines that a proposed discontinuance or settlement will substantially affect the interests of the members or a class of members of the nonprofit corporation, the court shall direct that notice be given to the members affected.

(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)

Section References

This section is referenced in § 29-411.08.


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