620.2005 Proceeds and expenses. - Florida Statutes

620.2005 Proceeds and expenses.

   (1) 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.

   (b) If the derivative plaintiff receives any proceeds, the derivative plaintiff shall immediately remit such proceeds to the limited partnership.

   (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, from the limited partnership.

History. s. 17, ch. 2005-267.