2018 Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 3 - Nonprofit Corporations
Article 7 - Meetings
Part 4 - Derivative Proceedings
§ 14-3-745. Discontinuance or settlement of proceeding prohibited without court approval

Universal Citation: GA Code § 14-3-745 (2018)
  • 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.

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