§ 55-13-31. Court costs and counsel fees. - North Carolina Statutes

§55‑13‑31.  Court costs and counsel fees.

(a)        The court in anappraisal proceeding commenced under G.S. 55‑13‑30 shall determineall costs of the proceeding, including the reasonable compensation and expensesof appraisers appointed by the court, and shall assess the costs as it findsequitable.

(b)        The court may alsoassess the fees and expenses of counsel and experts for the respective parties,in amounts the court finds equitable:

(1)        Against thecorporation and in favor of any or all dissenters if the court finds thecorporation did not substantially comply with the requirements of G.S. 55‑13‑20through 55‑13‑28; or

(2)        Against either thecorporation or a dissenter, in favor of either or any other party, if the courtfinds that the party against whom the fees and expenses are assessed actedarbitrarily, vexatiously, or not in good faith with respect to the rightsprovided by this Article.

(c)        If the court findsthat the services of counsel for any dissenter were of substantial benefit toother dissenters similarly situated, and that the fees for those servicesshould not be assessed against the corporation, the court may award to thesecounsel reasonable fees to be paid out of the amounts awarded the dissenterswho were benefited. (1925, c. 77, s. 1; 1943, c. 270; G.S., s. 55‑167;1955, c. 1371, s. 1; 1969, c. 751, s. 39; 1973, c. 469, ss. 36, 37; 1989, c.265, s. 1.)