Texas Statutes
§ 101.460 — DISCONTINUANCE OR SETTLEMENT.
Texas § 101.460
JurisdictionTexas
Code BOBusiness Organizations Code
This text of Texas § 101.460 (DISCONTINUANCE OR SETTLEMENT.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Tex. Business Organizations Code Code Ann. § 101.460 (2026).
Text
Sec. 101.460. DISCONTINUANCE OR SETTLEMENT.
(a)A derivative proceeding may not be discontinued or settled without court approval.
(b)The court shall direct that notice be given to the affected members if the court determines that a proposed discontinuance or settlement may substantially affect the interests of other members.
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Legislative History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Nearby Sections
15
§ 101.001
DEFINITIONS.§ 101.002
APPLICABILITY OF OTHER LAWS.§ 101.0515
EXECUTION OF FILINGS.§ 101.052
COMPANY AGREEMENT.§ 101.053
AMENDMENT OF COMPANY AGREEMENT.§ 101.055
IRREVOCABLE POWER OF ATTORNEY.§ 101.101
MEMBERS REQUIRED.§ 101.102
QUALIFICATION FOR MEMBERSHIP.§ 101.103
EFFECTIVE DATE OF MEMBERSHIP.§ 101.1055
SUBSCRIPTIONS.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 101.460, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/BO/101.460.