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·Code CORP Corporations 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

(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.

California § 15910.05. (15910.05. (Added by Stats. 2006, Ch. 495, Sec. 20.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.