N.D. Cent. Code § 10-32.1-38
This is the official text of N.D. Cent. Code § 10-32.1-38, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-32.1-38. Proceeds and expenses
Official statutory text
10-32.1-38. Proceeds and expenses
1. Except as otherwise provided in subsection 2:
a. Any proceeds or other benefits of a derivative action under section 10-32.1-34,
whether by judgment, compromise, or settlement, belong to the limited liability
company and not to the plaintiff; and
b. If the plaintiff receives any proceeds, then the plaintiff shall remit them
immediately to the company.
2. If a derivative action under section 10-32.1-34 is successful in whole or in part, then
the court may award the plaintiff reasonable expenses, including reasonable attorney
fees and costs, from the recovery of the limited liability company.
1. Except as otherwise provided in subsection 2:
a. Any proceeds or other benefits of a derivative action under section 10-32.1-34,
whether by judgment, compromise, or settlement, belong to the limited liability
company and not to the plaintiff; and
b. If the plaintiff receives any proceeds, then the plaintiff shall remit them
immediately to the company.
2. If a derivative action under section 10-32.1-34 is successful in whole or in part, then
the court may award the plaintiff reasonable expenses, including reasonable attorney
fees and costs, from the recovery of the limited liability company.
Status: in_force · Read it on the official government site
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