Note: This version of section effective until 1-1-2024. See also following repeal of this chapter, effective 1-1-2024.

Sec. 12. As used in this chapter, "material litigation" means litigation that under United States generally accepted accounting principles is considered significant to the financial health of a business and would be required to be referenced in a corporation's or business's annual audited financial statements, report to shareholders, or a similar document.

As added by P.L.42-1993, SEC.85. Amended by P.L.69-2018, SEC.60.