§ 7-16-58 - Expenses in derivative action. - Rhode-island Statutes

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Statutes > Rhode-island > Title-7 > Chapter-7-16 > 7-16-58

SECTION 7-16-58

§ 7-16-58 Expenses in derivative action.– (a) If a derivative action is successful, in whole or in part, or if anythingis received by the plaintiff as a result of a judgment, compromise orsettlement of an action or claim, the court may award the plaintiff reasonableexpenses, including legal fees, and shall direct him or her to remit to thelimited liability company the remainder of those proceeds received by him orher.

(b) In any action subsequently instituted on behalf of anylimited liability company by a member or members of the company, the courthaving jurisdiction, upon final judgment and a finding that the action wasbrought without reasonable cause, may require the plaintiff or plaintiffs topay to the parties named as defendants the reasonable expenses, including legalfees, incurred by them in the defense of the action.

State Codes and Statutes

Statutes > Rhode-island > Title-7 > Chapter-7-16 > 7-16-58

SECTION 7-16-58

§ 7-16-58 Expenses in derivative action.– (a) If a derivative action is successful, in whole or in part, or if anythingis received by the plaintiff as a result of a judgment, compromise orsettlement of an action or claim, the court may award the plaintiff reasonableexpenses, including legal fees, and shall direct him or her to remit to thelimited liability company the remainder of those proceeds received by him orher.

(b) In any action subsequently instituted on behalf of anylimited liability company by a member or members of the company, the courthaving jurisdiction, upon final judgment and a finding that the action wasbrought without reasonable cause, may require the plaintiff or plaintiffs topay to the parties named as defendants the reasonable expenses, including legalfees, incurred by them in the defense of the action.

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State Codes and Statutes

Statutes > Rhode-island > Title-7 > Chapter-7-16 > 7-16-58

SECTION 7-16-58

§ 7-16-58 Expenses in derivative action.– (a) If a derivative action is successful, in whole or in part, or if anythingis received by the plaintiff as a result of a judgment, compromise orsettlement of an action or claim, the court may award the plaintiff reasonableexpenses, including legal fees, and shall direct him or her to remit to thelimited liability company the remainder of those proceeds received by him orher.

(b) In any action subsequently instituted on behalf of anylimited liability company by a member or members of the company, the courthaving jurisdiction, upon final judgment and a finding that the action wasbrought without reasonable cause, may require the plaintiff or plaintiffs topay to the parties named as defendants the reasonable expenses, including legalfees, incurred by them in the defense of the action.