GroundRules
← Search the law
District of Columbia · Through 2026-08-20 (D.C. Law 26-175)

D.C. Code § 29-709.05: Proceeds and expenses.

Read at publisher ↗
Where this section sits in the code
  1. Title 29. Business Organizations. [Enacted title]
  2. Chapter 7. Limited Partnerships.
  3. Subchapter IX. Actions by Partners.

(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, shall 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 Superior Court may award the plaintiff reasonable expenses, including reasonable attorneys’ fees, from the recovery of the limited partnership.

(c)

A derivative action on behalf of a limited partnership may not be voluntarily dismissed or settled without the Superior Court’s approval.

Collected 2026-08-29T05:44:07Z. Source file · JSON

Browse this collection