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California · Through 2026-09-13

CORP § 15910.05

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Where this section sits in the code
  1. Corporations Code - CORP
  2. TITLE 2. PARTNERSHIPS [15800. - 16962.]
  3. CHAPTER 4.5. Uniform Limited Partnership Act of 2008 [15900. - 15912.07.]
  4. ARTICLE 10. Actions by Partners [15910.01. - 15910.06.]

(a) Except as otherwise provided in subdivision (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 of those 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.

Collected 2026-09-14T05:56:33Z. Source file · JSON

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