There really is no setting. You might be able to disable the update app in Settings>apps>all, but I don't know the name of the app specifically. When you get the update notification, you can pull the shade down and longpress it to bring up the button to show the app info screen and can possibly disable it there.
Don't worry too much. The update won't auto install. You'll receive a notification telling you that the new version is available and you have to agree to download and install the update.
If Verizon is handling this update like they did jelly bean, you will not be able to stop it. They force installed JB on my last phone, even though I declined it many times. I have been searching for a way around this for about 20 days now, and there is no solid answer, except to root the phone, which I am not interested in. There have been some who reported interrupting it, and it never installed, or showed it available after that. Don't know the carriers though.
In the system update, in settings, on my phone it's greyed out for me to disable, or uncheck notifications. Google disable lg g3 lollipop and you'll get some useful info, and a few other things to try. But I feel your pain, not sure what I am going to do yet......
I didn't know that! So you mean that one morning you can wake up and see that your phone has installed lollipop without you agreeing with that? That's annoying!
I thought you just had to deal with the persistent notification of new update available. I remember holding back the 4.4.3. update for a long time. Maybe just because my phone is unlocked.