2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
321.1005 PROCEEDS AND EXPENSES.
(a) Except as otherwise provided in subsection (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 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.
History: 2004 c 199 art 10 s 86
(a) Except as otherwise provided in subsection (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 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.
History: 2004 c 199 art 10 s 86
Official Publication of the State of Minnesota
Revisor of Statutes