Florida § 607.0745 Discontinuance or settlement; notice

Florida Statutes

§ 607.0745 — Discontinuance or settlement; notice

Florida § 607.0745

TitleXXXVI

Ch. 607FLORIDA BUSINESS CORPORATION ACT

This text of Florida § 607.0745 (Discontinuance or settlement; notice) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 607.0745 (2026).

Text

(1)A derivative action on behalf of a corporation may not be discontinued or settled without the court’s approval.

(2)If the court determines that a proposed discontinuance or settlement will substantially affect the interest of the corporation’s shareholders or a class, series, or voting group of shareholders, the court shall direct that notice be given to the shareholders affected. The court may determine which party or parties to the derivative action shall bear the expense of giving the notice.

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(1) A derivative action on behalf of a corporation may not be discontinued or settled without the court’s approval.

(2) If the court determines that a proposed discontinuance or settlement will substantially affect the interest of the corporation’s shareholders or a class, series, or voting group of shareholders, the court shall direct that notice be given to the shareholders affected. The court may determine which party or parties to the derivative action shall bear the expense of giving the notice.