Alabama Code (Last Updated: November 28, 2014) |
Title10A ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE. |
Chapter5A. LIMITED LIABILITY COMPANIES. |
Article9. Actions by Members. |
§10A-5A-9.07. Discontinuance or settlement.
Latest version.
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A derivative action may not be dismissed or compromised without the approval of the court, and notice of the proposed dismissal or compromise shall be given to members of the limited liability company or the members associated with the series of the limited liability company, as the case may be, in such manner as the court directs.