Section 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.Tex. Bus. Org. Code § 101.460
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.