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Vermont · Through 2025 session

11C V.S.A. § 1305: Proceeds and expenses

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Where this section sits in the code
  1. Title 11C: Mutual Benefit Enterprises
  2. Chapter 013: Action by Member

(a) Except as otherwise provided in subsection (b) of this section:

(1) any proceeds or other benefits of a derivative action to enforce a right of a mutual benefit enterprise, whether by judgment, compromise, or settlement, belong to the enterprise and not to the plaintiff; and

(2) if the plaintiff in the derivative action receives any proceeds, the plaintiff shall immediately remit them to the enterprise.

(b) If a derivative action to enforce a right of a mutual benefit enterprise 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 enterprise.

Collected 2026-09-05T16:26:57Z. Source file · JSON

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