Wyoming § 17-29-906 Proceeds and expenses

Wyoming Statutes

§ 17-29-906 — Proceeds and expenses

Wyoming·Title 17 Corporations, Partnerships and Associations·Ch. 29 WYOMING LIMITED LIABILITY COMPANY ACT·Art. 9 ACTIONS BY MEMBERS

(a)Except as otherwise provided in subsection (b) of this section:

(i)Any proceeds or other benefits of a derivative action under W.S. 17-29-902, whether by judgment, compromise or settlement, belong to the limited liability company and not to the plaintiff; and

(ii)If the plaintiff receives any proceeds, the plaintiff shall remit them immediately to the company.

(b)If a derivative action under W.S. 17-29-902 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.

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(a) Except as otherwise provided in subsection (b) of this
section:
(i) Any proceeds or other benefits of a derivative
action under W.S. 17-29-902, whether by judgment, compromise or
settlement, belong to the limited liability company and not to
the plaintiff; and
(ii) If the plaintiff receives any proceeds, the
plaintiff shall remit them immediately to the company.
(b) If a derivative action under W.S. 17-29-902 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.

Wyoming § 17-29-906 (Proceeds and expenses) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.