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Minnesota · Through 2025 Minnesota Statutes

Minn. Stat. § 321.1005: PROCEEDS AND EXPENSES.

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Where this section sits in the code
  1. BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS
  2. CHAPTER 321. UNIFORM LIMITED PARTNERSHIP ACT 2001
  3. ARTICLE 10 ACTIONS BY PARTNERS

(a) Except as otherwise provided in subsection (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 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 2026-09-02T22:10:42Z. Source file · JSON

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