Current through the 2024 Legislative Session
Section 47-34A-1106 - Proceeds and expenses(a) Except as otherwise provided in subsection (b):(1) Any proceeds or other benefits of a derivative action under § 47-34A-1102, whether by judgment, compromise, or settlement, belong to the limited liability company and not to the plaintiff; and(2) If the plaintiff receives any proceeds, the plaintiff shall immediately remit the proceeds to the company.(b) If a derivative action under § 47-34A-1102 is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney's fees and costs, from the recovery of the limited liability company.