Montana Code Annotated 2019

TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

CHAPTER 14. MONTANA BUSINESS CORPORATION ACT(Effective June 1, 2020)

Part 7. Shareholders(Effective June 1, 2020)

Discontinuance -- Settlement

35-14-745. Discontinuance -- settlement. 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 shareholders or a class or series of shareholders, the court shall direct that notice be given to the shareholders affected.

History: En. Sec. 88, Ch. 271, L. 2019.