§ 15910.05
87 words·~1 min read·
/ca/corporations-code/15910-05A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Except as otherwise provided in subdivision (b):
(1)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;
(2)if the derivative plaintiff receives any of those proceeds, the derivative plaintiff shall immediately remit them to the limited partnership.
(b)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.