Idaho § 30-24-906 PROCEEDS AND EXPENSES

Idaho Statutes

§ 30-24-906 — PROCEEDS AND EXPENSES

Idaho § 30-24-906

Title 30CORPORATIONS

Part 9ACTIONS BY PARTNERS

Ch. 24LIMITED PARTNERSHIPS

This text of Idaho § 30-24-906 (PROCEEDS AND EXPENSES) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 30-24-906 (2026).

Text

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

(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 plaintiff; and

(2)If the plaintiff receives any proceeds, the plaintiff shall remit them immediately to the 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 and costs, from the recovery of the limited partnership.

(c)A derivative action on behalf of a limited partnership may not be voluntarily dismissed or settled without the 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, whether by judgment, compromise, or settlement, belong to the limited partnership and not to the plaintiff; and
(2) If the plaintiff receives any proceeds, the plaintiff shall remit them immediately to the 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 and costs, from the recovery of the limited partnership.
(c) A derivative action on behalf of a limited partnership may not be voluntarily dismissed or settled without the court’s approval.