Iowa Code § 504.637

Current through bills signed by governor as of 5/17/2024

Section 504.637 - Payment of expenses

On termination of a derivative proceeding, the court may do either of the following:

1. Order the corporation to pay the plaintiff's reasonable expenses, including attorney fees incurred in the proceeding, if it finds that the proceeding has resulted in a substantial benefit to the corporation.

2. Order the plaintiff to pay any defendant's reasonable expenses, including attorney fees incurred in defending the proceeding, if it finds that the proceeding was commenced or maintained without reasonable cause or for an improper purpose.

Iowa Code § 504.637

2004 Acts, ch 1049, §52, 192

Referred to in §504.638, 504.810