D.C. Code § 29-808.06: Proceeds and expenses.
Where this section sits in the code
- Title 29. Business Organizations. [Enacted title]
- Chapter 8. Limited Liability Companies.
- Subchapter VIII. Actions by Members.
(a)
Except as otherwise provided in subsection (b) of this section:
(1)
Any proceeds or other benefits of a derivative action under § 29-808.02, whether by judgment, compromise, or settlement, belong to the limited liability company and not to the plaintiff; and
(2)
If the plaintiff receives any proceeds, the plaintiff shall remit them immediately to the company.
(b)
If a derivative action under § 29-808.02 is successful in whole or in part, the Superior Court may award the plaintiff reasonable expenses, including reasonable attorney’s fees and costs, from the recovery of the limited liability company.
(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