§ 17-16-746 — Payment of expenses

Wyoming § 17-16-746

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 16: WYOMING BUSINESS CORPORATION ACT
• Art. 7: SHAREHOLDERS

Text

(a) On termination of the derivative proceeding the court
may:
(i) Order the corporation to pay the plaintiff's
reasonable expenses, including counsel fees, incurred in the
proceeding if it finds that the proceeding resulted in a
substantial benefit to the corporation;
(ii) Order the plaintiff to pay any defendant's
reasonable expenses, including counsel fees, incurred in
defending the proceeding if it finds that the proceeding was
commenced or maintained without reasonable cause or for an
improper purpose; or
(iii) Order a party to pay an opposing party's
reasonable expenses, including counsel fees, incurred because of
the filing of a pleading, motion or other paper, if it finds
that the pleading, motion or other paper was not well grounded
in fact, after reasonable inquiry, or warranted by existing law
or a good faith argument for the extension, modification or
reversal of existing law and was interposed for an improper
purpose, such as to harass or to cause unnecessary delay or
needless increase in the cost of litigation.