S-31.1 - Business Corporations Act

Section 440 Disposition versions

2011-02-14

440. An application made under subdivision 2 or 3 may not be dismissed on the sole ground that it is shown that an alleged breach of a right of or an obligation owed to a corporation or its subsidiary has been or may be approved by the corporation’s shareholders, but evidence of approval by the shareholders may be taken into account by a court in making a decision under either of those subdivisions.

2009, c. 52, s. 440.