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Utah · Through 2026 General Session

Utah Code § 48-2e-1006: Proceeds and expenses.

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Where this section sits in the code
  1. Title 48 Unincorporated Business Entity Act
  2. Chapter 48-2e Utah Uniform Limited Partnership Act
  3. Part 48-2e-10 Actions by Partners

(1) Except as otherwise provided in Subsection (2):

(a) any proceeds or other benefits of a derivative action, whether by judgment, compromise, or settlement, belong to the limited partnership and not to the plaintiff; and

(b) if the plaintiff receives any proceeds, the plaintiff shall remit them immediately to the limited partnership.

(2) If a derivative action is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney's fees and costs, from the recovery of the limited partnership.

(3) A derivative action on behalf of a limited partnership may not be voluntarily dismissed or settled without the court's approval.

Collected 2026-09-03T11:34:33Z. Source file · JSON

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