{"data":{"id":"us-va/va.-code-13.1-672.2","jurisdiction":"us-va","citation":"Va. Code § 13.1-672.2","heading":"Discontinuance or settlement","body":"A. A derivative proceeding may not be settled or discontinued without the court's approval. If the court determines that a proposed discontinuance or settlement will substantially and adversely affect the interests of the corporation's shareholders or a class or series of the corporation's shareholders, the court shall direct that notice be given to the shareholders affected.B. Notice required by subsection A shall be given in such manner as the court shall determine, and the costs of such notice shall be borne in such manner as the court shall direct.1992, c. 802; 2019, c. 734.","path":["Title 13.1. Corporations","Chapter 9. Virginia Stock Corporation Act","Article 8.1. Derivative Proceedings and Other Shareholder Actions"],"source_url":"https://law.lis.virginia.gov/vacode/13.1-672.2/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:14:14Z","sha256":"e66635c4706e10be17ccfe93d7b8b49a921f55cab94069cea7a45ed15ce918a5","source_id":"us-va","stale":true,"prev":"us-va/va.-code-13.1-672.1","next":"us-va/va.-code-13.1-672.3"},"notice":"GroundRules: Original legal text. Not legal advice."}