§425E-1005 - Proceeds and expenses.
[§425E-1005] Proceeds and expenses.
(a) Except as otherwise provided in subsection (b):
(1) 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
(2) If the derivative plaintiff receives any
proceeds, the derivative plaintiff shall immediately remit them to the limited
partnership.
(b) If a derivative action is successful in
whole or in part, the court may award the derivative plaintiff reasonable
expenses, including reasonable attorney's fees, from the recovery of the
limited partnership. [L 2003, c 210, pt of §1]