Home Table of Contents

§ 4A-804. Allocation of proceeds

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 4a. Limited Liability Company Act (Refs & Annos)
Subtitle 8. Derivative Actions
MD Code, Corporations and Associations, § 4A-804
§ 4A-804. Allocation of proceeds
Currentness
If a derivative action is successful, in whole or in part, or if anything is received by the plaintiff as a result of a judgment, compromise, or settlement of an action or claim, the court:
(1) May award the plaintiff reasonable expenses, including reasonable attorney's fees; and
(2) Shall direct the plaintiff to remit to the limited liability company the remainder of those proceeds.

Credits

Added by Acts 1992, c. 536.
MD Code, Corporations and Associations, § 4A-804, MD CORP & ASSNS § 4A-804
Current through legislation effective through June 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document