2015 Code of Alabama
Title 10A - ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE.
Chapter 5A - LIMITED LIABILITY COMPANIES.
Article 9 - Actions by Members.
Section 10A-5A-9.07 - Discontinuance or settlement.

AL Code § 10A-5A-9.07 (2015) What's This?
Section 10A-5A-9.07Discontinuance or settlement.

A derivative action may not be dismissed or compromised without the approval of the court, and notice of the proposed dismissal or compromise shall be given to members of the limited liability company or the members associated with the series of the limited liability company, as the case may be, in such manner as the court directs.

(Act 2014-144, §1.)

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