2018 Iowa Code
Title XII - BUSINESS ENTITIES
Chapter 504 - REVISED IOWA NONPROFIT CORPORATION ACT
Section 504.636 - Discontinuance or settlement.
Discontinuance or settlement.
A derivative proceeding shall 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 a corporation’s member or class of members or director, the court shall direct that notice be given to the members or director affected.
2004 Acts, ch 1049, §51, 192
Referred to in §504.638, §504.810