Section 47-16-38 - Expenses of maintaining action--Disposition of proceeds. - South Dakota Statutes

47-16-38. Expenses of maintaining action--Disposition of proceeds. If anything is recovered or obtained as the result of an action instituted or maintained in the right of any association by any member or stockholder, whether by means of compromise and settlement or by a judgment, the court may, out of the proceeds of the action, award the plaintiff the reasonable expenses of maintaining the action, including reasonable attorney's fees, and may direct the plaintiff to account to the cooperative for the remainder of such proceeds.

Source: SDC 1939, § 11.1153 (3) as enacted by SL 1965, ch 23, § 1.