yourstate.us
Home / Florida / NONPROFIT CORPORATIONS
Fla. Stat. § 617.0745

Discontinuance or settlement; notice

Florida · Florida Statutes Chapter 617 — NONPROFIT CORPORATIONS · Status: effective

Get this as JSONEmbed this
Cite this
Citation
Fla. Stat. § 617.0745, Discontinuance or settlement; notice, Florida, version 1 as recorded 2026-10-02, yourstate.us, https://yourstate.us/provision/2061105
Permanent ID
ys:prov:2061105@1
SHA-256
b1f7f4a9d20a0e8f12ca496d012c9ece513f996656a04c26544f951d2565282e

The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.

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 any of the corporation’s members, the court must direct that notice be given to the members affected. The court may determine which party or parties to the derivative action bears the expense of giving the notice.