A. Except as otherwise provided in Subsection B of this section:
(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 plaintiff reasonable expenses, including reasonable attorney fees, from the recovery of the limited partnership.
History: Laws 2007, ch. 129, § 1005.
Effective dates. — Laws 2007, ch. 129, § 1208 made the section effective January 1, 2008.
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