District of Columbia § 29-808.06 Proceeds and expenses.

District of Columbia Statutes

§ 29-808.06 — Proceeds and expenses.

District of Columbia § 29-808.06

Title 29Business Organizations. [Enacted title]

Ch. 8Limited Liability Companies.

Subch. VIIIActions by Members.

This text of District of Columbia § 29-808.06 (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 § 29-808.06 (2026).

Text

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

(1)Any proceeds or other benefits of a derivative action under § 29-808.02 , whether by judgment, compromise, or settlement, belong to the limited liability company and not to the plaintiff; and

(2)If the plaintiff receives any proceeds, the plaintiff shall remit them immediately to the company.

(b)If a derivative action under § 29-808.02 is successful in whole or in part, the Superior Court may award the plaintiff reasonable expenses, including reasonable attorney’s fees and costs, from the recovery of the limited liability company.

(c)A derivative action on behalf of a limited partnership may not be voluntarily dismissed or settled without the Superior Court’s approval.

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

(1) Any proceeds or other benefits of a derivative action under § 29-808.02 , whether by judgment, compromise, or settlement, belong to the limited liability company and not to the plaintiff; and

(2) If the plaintiff receives any proceeds, the plaintiff shall remit them immediately to the company.

(b) If a derivative action under § 29-808.02 is successful in whole or in part, the Superior Court may award the plaintiff reasonable expenses, including reasonable attorney’s fees and costs, from the recovery of the limited liability company.

(c) A derivative action on behalf of a limited partnership may not be voluntarily dismissed or settled without the Superior Court’s approval.