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Discontinuance or settlement of proceeding prohibited without court approval.

O.C.G.A. § 14-3-745
in effect
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14-3-745. Discontinuance or settlement of proceeding prohibited without court approval. A derivative proceeding may not be discontinued or settled without the court's approval. If the court determines that a proposed discontinuance or settlement will substantially affect the interests of the corporation's members or a class of members, the court shall direct that notice be given to the members affected. (Code 1981, § 14-3-745, enacted by Ga. L. 1991, p. 465, § 1.) (Amended by Ga. L. 2023, Act 260 (SB 148), eff. July 1, 2023.)
Source: Official Code of Georgia (Legislative Counsel's copy via Public.Resource.Org) + acts (legis.ga.gov)URL: https://www.legis.ga.gov/api/legislation/document/20232024/219037Fetched: 10/24/2026

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