Tex. Bus. Orgs. Code § 153.410 · Subchapter I. DERIVATIVE ACTIONS
DISCONTINUANCE OR SETTLEMENT.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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 partners if the court determines that a proposed discontinuance or settlement may substantially affect the interests of other partners.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603), Sec. 30, eff. September 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.153.htm
- Text hash
- sha256 d93ac6af37b1ef9f40749c45179812779d81e2c24d47a15a22ea6510a6eeac27
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 2 provisions
Provisions in this library whose text cites Tex. Bus. Orgs. Code § 153.410. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.