25.10.721 - Proceeds and expenses. - Washington Statutes

Proceeds and expenses.

(1) Except as otherwise provided in subsection (2) of this section:

     (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 attorneys' fees, from the recovery of the limited partnership.

[2009 c 188 § 1005.]