Oklahoma § 54-500-1005A Proceeds and expenses.

Oklahoma Statutes

§ 54-500-1005A — Proceeds and expenses.

Oklahoma § 54-500-1005A

Title 54Partnership

This text of Oklahoma § 54-500-1005A (Proceeds and expenses.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 54, § 54-500-1005A (2026).

Text

PROCEEDS AND EXPENSES.

(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 derivative plaintiff;

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

(b)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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PROCEEDS AND EXPENSES. (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 derivative plaintiff; (2) if the derivative plaintiff receives any proceeds, the derivative plaintiff shall immediately remit them to the limited partnership. (b) 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.