Florida Statutes § 605.0806 — Voluntary dismissal or settlement; notice.
Search Florida StatutesFrom the Legislature's 2026 edition, which includes changes effective through January 1, 2027. Later effective dates are retained in each section's source notes.
(1) A derivative action on behalf of a limited liability company may not be voluntarily dismissed or settled without the court’s approval.
(2) If the court determines that a proposed voluntary dismissal or settlement will substantially affect the interest of the limited liability company’s members or a class, series, or voting group of members, the court shall direct that notice be given to the members affected. The court may determine which party or parties to the derivative action shall bear the expense of giving the notice.
History
History.—s. 2, ch. 2013-180.
Source captured on 2026-10-10. Read the official chapter.