§425E-1005 - Proceeds and expenses. - Hawaii Statutes

     [§425E-1005]  Proceeds and expenses.  (a)  Except as otherwise provided in subsection (b):

     (1)  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

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

     (b)  If a derivative action is successful in whole or in part, the court may award the derivative plaintiff reasonable expenses, including reasonable attorney's fees, from the recovery of the limited partnership. [L 2003, c 210, pt of §1]