District of Columbia Statutes
§ 29-305.55 — Discontinuance or settlement.
District of Columbia § 29-305.55
JurisdictionDistrict of Columbia
Title 29Business Organizations. [Enacted title]
Ch. 3Business Corporations.
Subch. VShareholders.
Part DDerivative Proceedings.
This text of District of Columbia § 29-305.55 (Discontinuance or settlement.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
D.C. Code § 29-305.55 (2026).
Text
A derivative proceeding shall not be discontinued or settled without the Superior 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 of shareholders, the court shall direct that notice be given to the shareholders affected.
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Legislative History
July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720
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Dual capacity.Cite This Page — Counsel Stack
Bluebook (online)
District of Columbia § 29-305.55, Counsel Stack Legal Research, https://law.counselstack.com/statute/dc/29-305.55.