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

Colorado Statutes

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

Colorado § 7-80-718

Title 07Corporations

Art.Limited Liability Companies

This text of Colorado § 7-80-718 (Payment of expenses - derivative proceeding) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 7-80-718 (2026).

Text

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.