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Minnesota · Through 2025 Minnesota Statutes

Minn. Stat. § 322C.0906: PROCEEDS AND EXPENSES.

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Where this section sits in the code
  1. BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS
  2. CHAPTER 322C. MINNESOTA REVISED UNIFORM LIMITED LIABILITY COMPANY
  3. ACTIONS BY MEMBERS

Subdivision 1. Ownership of proceeds.

Except as otherwise provided in subdivision 2:

(1) any proceeds or other benefits of a derivative action under section 322C.0902, 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.

Subd. 2. Expenses awarded.

If a derivative action under section 322C.0902 is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney fees and costs, from the recovery of the limited liability company.

Collected 2026-09-02T22:10:42Z. Source file · JSON

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