Alabama Code 10A-9A-9.07. Discontinuance or settlement
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Terms Used In Alabama Code 10A-9A-9.07
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A derivative action may not be dismissed or compromised without the approval of the court, and notice of the proposed dismissal or compromise shall be given to partners of the limited partnership in such manner as the court directs.