Florida Statute 607.0745 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS

Chapter 607
FLORIDA BUSINESS CORPORATION ACT

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F.S. 607.0745

607.0745 Discontinuance or settlement; notice.—

(1) A derivative action on behalf of a corporation may not be discontinued or settled without the court’s approval.

(2) If the court determines that a proposed discontinuance or settlement will substantially affect the interest of the corporation’s shareholders or a class, series, or voting group of shareholders, the court shall direct that notice be given to the shareholders affected. The court may determine which party or parties to the derivative action shall bear the expense of giving the notice.

History.—s. 77, ch. 2019-90.

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Amendments to 607.0745

Arrestable Offenses / Crimes under Fla. Stat. 607.0745

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 607.0745.

Annotations, Discussions, Cases:

Cases Citing Statute 607.0745

Total Results: 1

MARK SPANAKOS v. HAWK SYSTEMS, INC.

Court: District Court of Appeal of Florida | Date Filed: 2023-04-19

Snippet: shareholder actions require court approval, see § 607.0745(1), Fla. Stat. (2022), court approval is a post-agreement