Fla. Stat. § 607.0745
Discontinuance or settlement; notice
Florida · Florida Statutes Chapter 607 — FLORIDA BUSINESS CORPORATION ACT · Status: effective
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- Citation
- Fla. Stat. § 607.0745, Discontinuance or settlement; notice, Florida, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1153076
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Full text
(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.