{"data":{"id":"us-tx/tex.-business-organizations-code-101.460","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 101.460","heading":"DISCONTINUANCE OR SETTLEMENT.","body":"(a) A derivative proceeding may not be discontinued or settled without court approval.\n(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.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 3. LIMITED LIABILITY COMPANIES","CHAPTER 101. LIMITED LIABILITY COMPANIES","SUBCHAPTER J. DERIVATIVE PROCEEDINGS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.101.htm#101.460","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"dafa7e3bf277c82c419acc0863554eae29181e3752f17990f200c1338310d1f9","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-101.459","next":"us-tx/tex.-business-organizations-code-101.461"},"notice":"GroundRules: Original legal text. Not legal advice."}