MLchartDataset catalogue

Special litigation committee (SLC)

Term · Insurance and risk management · MLC-T-INS-003127

An independent committee formed by a corporation's board of directors to investigate shareholder derivative demands or lawsuits. The SLC determines whether pursuing the litigation is in the best interests of the corporation. Its members are outside directors who have no personal interest in the outcome of the derivative action, and their recommendations are given deference by courts.

Table 1. Record
IdentifierMLC-T-INS-003127
FieldInsurance and risk management
SubjectManagement Liability
AbbreviationSLC
Record as JSON 
{
  "id": "MLC-T-INS-003127",
  "term": "Special litigation committee (SLC)",
  "field": "Insurance and risk management",
  "definition": "An independent committee formed by a corporation's board of directors to investigate shareholder derivative demands or lawsuits. The SLC determines whether pursuing the litigation is in the best interests of the corporation. Its members are outside directors who have no personal interest in the outcome of the derivative action, and their recommendations are given deference by courts.",
  "abbreviation": "SLC",
  "subject": "Management Liability",
  "url": "https://mlchart.com/terminology/insurance/special-litigation-committee-slc/"
}

Record 3,227 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.