Colorado § 7-80-718 Payment of expenses - derivative proceeding

Colorado Statutes

§ 7-80-718 — Payment of expenses - derivative proceeding

Colorado·Title 07 Corporations·Art. Limited Liability Companies

On the termination
of a derivative proceeding commenced pursuant to this part 7, where the court
finds that the proceeding has resulted in a substantial benefit to the limited liability
company, the court may order the limited liability company to pay the plaintiff's
reasonable expenses, including attorney fees, incurred by the plaintiff in
connection with the maintenance of such proceeding. On the termination of a
derivative proceeding commenced pursuant to this part 7, where the court finds
that the proceeding was commenced or maintained without reasonable cause or for
an improper purpose, the court may order the plaintiff to pay any of the defendant's
reasonable expenses, including attorney fees, incurred by the defendant in
connection with the defense of such proceeding.

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On the termination
of a derivative proceeding commenced pursuant to this part 7, where the court
finds that the proceeding has resulted in a substantial benefit to the limited liability
company, the court may order the limited liability company to pay the plaintiff's
reasonable expenses, including attorney fees, incurred by the plaintiff in
connection with the maintenance of such proceeding. On the termination of a
derivative proceeding commenced pursuant to this part 7, where the court finds
that the proceeding was commenced or maintained without reasonable cause or for
an improper purpose, the court may order the plaintiff to pay any of the defendant's
reasonable expenses, including attorney fees, incurred by the defendant in
connection with the defense of such proceeding.

Colorado § 7-80-718 (Payment of expenses - derivative proceeding) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.