§1425. Proceeds and expenses
1.
Proceeds.
Except as otherwise provided in subsection 2:
A.
Any proceeds or other benefits of a derivative action, whether by judgment, compromise or settlement, belong to the limited partnership and not to the derivative plaintiff; and
[PL 2005, c. 543, Pt. C, §2 (NEW).]
B.
If the derivative plaintiff receives any proceeds, the derivative plaintiff shall immediately remit them to the limited partnership.
[PL 2005, c. 543, Pt. C, §2 (NEW).]
[PL 2005, c. 543, Pt. C, §2 (NEW).]
2.
Expenses.
If a derivative action is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney's fees, from the recovery of the limited partnership.
[PL 2005, c. 543, Pt. C, §2 (NEW).]
SECTION HISTORY
PL 2005, c. 543, §C2 (NEW).