87A.680 - Proceeds and expenses. - Nevada Statutes

87A.680  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 them 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 recovery of the limited partnership.

      (Added to NRS by 2007, 482)