Maine Revised Statutes

§1425. Proceeds and expenses

1. Proceeds.  Except as otherwise provided in subsection 2:
A. 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; and [2005, c. 543, Pt. C, §2 (NEW).]
B. If the derivative plaintiff receives any proceeds, the derivative plaintiff shall immediately remit them to the limited partnership. [2005, c. 543, Pt. C, §2 (NEW).]
[ 2005, c. 543, Pt. C, §2 (NEW) .]
2. Expenses.  If a derivative action is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney's fees, from the recovery of the limited partnership.
[ 2005, c. 543, Pt. C, §2 (NEW) .]
SECTION HISTORY
2005, c. 543, §C2 (NEW).