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 or series of shareholders, the court shall direct that notice be given to the shareholders affected.
Idaho Code § 30-29-745
Discontinuance or settlement
Known as the Idaho Business Corporation Act
The act spans §§ 30-29-1001 to 30-29-935 (209 sections).
I.C., § 30-29 -745, as added by 2015, ch. 243, § 62, p. 758; am. 2019, ch. 90, § 69, p. 220.
Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.