California § 15910.05. 15910.05. (Added by Stats. 2006, Ch. 495, Sec. 20.)

California Statutes

§ 15910.05. — 15910.05. (Added by Stats. 2006, Ch. 495, Sec. 20.)

California § 15910.05.

JurisdictionCalifornia

Code CORPCorporations Code - CORP

Title 2.TITLE 2. PARTNERSHIPS

Ch. 4.5.CHAPTER 4.5. Uniform Limited Partnership Act of 2008

Art. 10.ARTICLE 10. Actions by Partners

This text of California § 15910.05. (15910.05. (Added by Stats. 2006, Ch. 495, Sec. 20.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Corporations Code - CORP Code § 15910.05. (2026).

Text

(a)Except as otherwise provided in subdivision (b):

(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;

(2)if the derivative plaintiff receives any of those 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’s fees, from the recovery of the limited partnership.

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(a)
Except as otherwise provided in subdivision (b):
(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;
(2)
if the derivative plaintiff receives any of those 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’s fees, from the recovery of the limited partnership.