Montana § 35-12-1404 Proceeds And Expenses

Montana Statutes

§ 35-12-1404 — Proceeds And Expenses

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 12 LIMITED PARTNERSHIPS·Part 14 Derivative Actions

35-12-1404 . Proceeds and expenses.

(1)Except as provided in subsection (2):

(a)any proceeds or other benefits of a derivative action, whether by judgment, compromise, or settlement, belong to the limited partnership and not to the derivative plaintiff;

(b)if the derivative plaintiff receives any proceeds, the derivative plaintiff shall immediately remit them to the limited partnership.

(2)If a derivative action is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney fees, from the recovery of the limited partnership.

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35-12-1404 . Proceeds and expenses. (1) Except as provided in subsection (2):
(a) any proceeds or other benefits of a derivative action, whether by judgment, compromise, or settlement, belong to the limited partnership and not to the derivative plaintiff;
(b) if the derivative plaintiff receives any proceeds, the derivative plaintiff shall immediately remit them to the limited partnership.
(2) If a derivative action is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney fees, from the recovery of the limited partnership.

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