District of Columbia § 29-1013.05 Proceeds and expenses.

District of Columbia Statutes

§ 29-1013.05 — Proceeds and expenses.

District of Columbia § 29-1013.05

Title 29Business Organizations. [Enacted title]

Ch. 10Limited Cooperative Associations.

Subch. XIIIAction by Member.

This text of District of Columbia § 29-1013.05 (Proceeds and expenses.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 29-1013.05 (2026).

Text

(a)Except as otherwise provided in subsection (b) of this section:

(1)Any proceeds or other benefits of a derivative action to enforce a right of a limited cooperative association, whether by judgment, compromise, or settlement, belong to the association and not to the plaintiff; and

(2)If the plaintiff in the derivative action receives any proceeds, the plaintiff shall immediately remit them to the association.

(b)If a derivative action to enforce a right of a limited cooperative association is successful in whole or in part, the Superior Court may award the plaintiff reasonable expenses, including reasonable attorneys’ fees and costs, from the recovery of the association.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Except as otherwise provided in subsection (b) of this section:

(1) Any proceeds or other benefits of a derivative action to enforce a right of a limited cooperative association, whether by judgment, compromise, or settlement, belong to the association and not to the plaintiff; and

(2) If the plaintiff in the derivative action receives any proceeds, the plaintiff shall immediately remit them to the association.

(b) If a derivative action to enforce a right of a limited cooperative association is successful in whole or in part, the Superior Court may award the plaintiff reasonable expenses, including reasonable attorneys’ fees and costs, from the recovery of the association.