A derivative proceeding may 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 the corporation's shareholders or a class of shareholders, the court shall direct that notice be given to the shareholders affected.
Haw. Rev. Stat. § 414-176
Discontinuance or settlement
Known as the Hawaii Business Corporation Act
The act spans §§ 414–414 (199 sections).
L 2000, c 244, pt of §1
Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.