Utah § 48-3a-806 Proceeds and expenses.

Utah Statutes

§ 48-3a-806 — Proceeds and expenses.

Utah § 48-3a-806

Title 48Unincorporated Business Entity Act

Ch. 48-3aUtah Revised Uniform Limited Liability Company Act

Part 48-3a-8Action by Members

This text of Utah § 48-3a-806 (Proceeds and expenses.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 48-3a-806 (2026).

Text

(1)Except as otherwise provided in Subsection (2):

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

(1)(b) if the plaintiff receives any proceeds, the plaintiff shall remit them immediately to the limited liability company.

(2)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 liability company.

(3)A derivative action on behalf of a limited liability company may not be voluntarily dismissed or settled without the court's approval.

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(1) Except as otherwise provided in Subsection (2):

(1)(a) any proceeds or other benefits of a derivative action, whether by judgment, compromise, or settlement, belong to the limited liability company and not to the plaintiff; and
(1)(b) if the plaintiff receives any proceeds, the plaintiff shall remit them immediately to the limited liability company.
(2) 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 liability company.
(3) A derivative action on behalf of a limited liability company may not be voluntarily dismissed or settled without the court's approval.