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

Oklahoma Statutes

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

Oklahoma·Title 54 Partnership

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.

Oklahoma § 54-500-1005A (Proceeds and expenses.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.