§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 derivativeaction, whether by judgment, compromise, or settlement, belong to the limitedpartnership and not to the derivative plaintiff; and

(2)  If the derivative plaintiff receives anyproceeds, the derivative plaintiff shall immediately remit them to the limitedpartnership.

(b)  If a derivative action is successful inwhole or in part, the court may award the derivative plaintiff reasonableexpenses, including reasonable attorney's fees, from the recovery of thelimited partnership. [L 2003, c 210, pt of §1]