State Codes and Statutes

Statutes > Georgia > Title-14 > Chapter-11 > Article-8 > 14-11-804

O.C.G.A. 14-11-804 (2010)
14-11-804. Discontinuance or settlement

Except as otherwise provided by the articles of organization or written operating agreement, a derivative action 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 limited liability company's members, the court shall direct that notice be given to the members affected.

State Codes and Statutes

Statutes > Georgia > Title-14 > Chapter-11 > Article-8 > 14-11-804

O.C.G.A. 14-11-804 (2010)
14-11-804. Discontinuance or settlement

Except as otherwise provided by the articles of organization or written operating agreement, a derivative action 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 limited liability company's members, the court shall direct that notice be given to the members affected.