Florida Statutes § 607.0745 — Discontinuance 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.
Part I — GENERAL PROVISIONS
(1) A derivative action on behalf of a corporation may not be discontinued or settled without the court’s approval.
(2) If the court determines that a proposed discontinuance or settlement will substantially affect the interest of the corporation’s shareholders or a class, series, or voting group of shareholders, the court shall direct that notice be given to the shareholders affected. The court may determine which party or parties to the derivative action shall bear the expense of giving the notice.
History
History.—s. 77, ch. 2019-90.
Source captured on 2026-10-10. Read the official chapter.