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§ 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
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 May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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