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North Dakota · Through 2026-07-31T11:12:02 · Newer source version available

N.D. Cent. Code § 10-32.1-38: Proceeds and expenses

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Where this section sits in the code
  1. Title 10 Corporations
  2. Chapter 10-32.1 Uniform Limited Liability Company Act

1.Except as otherwise provided in subsection 2:

a.Any proceeds or other benefits of a derivative action under section 10-32.1-34, whether by judgment, compromise, or settlement, belong to the limited liability company and not to the plaintiff; and

b.If the plaintiff receives any proceeds, then the plaintiff shall remit them immediately to the company.

2.If a derivative action under section 10-32.1-34 is successful in whole or in part, then the court may award the plaintiff reasonable expenses, including reasonable attorney fees and costs, from the recovery of the limited liability company.

Collected 2026-09-02T21:04:14Z. Source file · JSON

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