There is a newer version of the Colorado Revised Statutes
2016 Colorado Revised Statutes
Title 7 - Corporations and Associations
Limited Liability Companies
Article 80 - Limited Liability Companies
Part 7 - Members
§ 7-80-717. Discontinuance or settlement of derivative proceeding
CO Rev Stat ยง 7-80-717 (2016) What's This?
No derivative proceeding commenced pursuant to this part 7 shall be discontinued or settled without the approval of the court. Where the court determines that a proposed discontinuance or settlement will substantially affect the interests of the members of the limited liability company, the court shall direct that notice be given to the members affected.
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