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§ 500-1005A. Proceeds and expenses

Oklahoma Statutes AnnotatedTitle 54. Partnership

Oklahoma Statutes Annotated
Title 54. Partnership
Chapter 9. Uniform Limited Partnership Act of 2010 (Refs & Annos)
Article 10. Actions by Partners
54 Okl.St.Ann. § 500-1005A
§ 500-1005A. Proceeds and expenses
Currentness
PROCEEDS AND EXPENSES.
(a) Except as otherwise provided in subsection (b) of this section:
(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 fees, from the recovery of the limited partnership.

Credits

Laws 2010, c. 384, § 87, eff. Jan. 1, 2011.
54 Okl. St. Ann. § 500-1005A, OK ST T. 54 § 500-1005A
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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