Terms Used In Vermont Statutes Title 11 Sec. 1304

  • Mutual benefit enterprise: means an enterprise organized under this title. See
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.

§ 1304. Approval for discontinuance or settlement

A derivative action to enforce a right of a mutual benefit enterprise may not be discontinued or settled without the court’s approval. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)

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