10-1331. Court costs and attorney fees
A. The court in an appraisal proceeding commenced under section 10-1330 shall
determine all costs of the proceeding, including the reasonable compensation and expenses
of any master appointed by the court. The court shall assess the costs against the
corporation, except that the court shall assess costs against all or some of the
dissenters to the extent the court finds that the fair value does not materially exceed
the amount offered by the corporation pursuant to sections 10-1325 and 10-1327 or that
the dissenters acted arbitrarily, vexatiously or not in good faith in demanding payment
under section 10-1328.
B. The court may also assess the fees and expenses of attorneys and experts for the
respective parties in amounts the court finds equitable either:
1. Against the corporation and in favor of any or all dissenters if the court finds
that the corporation did not substantially comply with the requirements of article 2 of
this chapter.
2. Against the dissenter and in favor of the corporation if the court finds that
the fair value does not materially exceed the amount offered by the corporation pursuant
to sections 10-1325 and 10-1327.
3. Against either the corporation or a dissenter in favor of any other party if the
court finds that the party against whom the fees and expenses are assessed acted
arbitrarily, vexatiously or not in good faith with respect to the rights provided by this
chapter.
C. If the court finds that the services of an attorney for any dissenter were of
substantial benefit to other dissenters similarly situated and that the fees for those
services should not be assessed against the corporation, the court may award to these
attorneys reasonable fees to be paid out of the amounts awarded the dissenters who were
benefitted.
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