13.1-1233 - Payment of and security for expenses. - Virginia Statutes

§ 13.1-1233. Payment of and security for expenses.

On termination of a derivative proceeding, the court shall:

1. Order the business trust to pay the plaintiff's reasonable expenses,including counsel fees, incurred in the proceeding if it finds that theproceeding has resulted in a substantial benefit to the business trust; or

2. Order the plaintiff or the plaintiff's attorney to pay any defendant'sreasonable expenses, including counsel fees, incurred in defending theproceeding if it finds that the proceeding was commenced or maintainedarbitrarily, vexatiously or not in good faith.

(2002, c. 621.)