Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 11. LIMITED LIABILITY COMPANIES · Article 8. DERIVATIVE ACTIONS
14-11-806. Expenses.
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
- (a)
If a derivative action is successful, in whole or in part, or if anything is received by the plaintiff as a result of a judgment, compromise, or settlement of an action or claim, the court may award the plaintiff reasonable expenses, including reasonable attorneys’ fees, and shall direct him or her to remit to the limited liability company the remainder of those proceeds received by him or her.#
- (b)
In any derivative action instituted on or after March 1, 1994, in the right of any domestic or foreign limited liability company by a member or members thereof, the court having jurisdiction, upon termination of such action and a finding that the action was commenced or maintained without reasonable cause or for an improper purpose, may order the plaintiff or plaintiffs to pay to the parties named as defendants the reasonable expenses, including reasonable attorneys’ fees, incurred by them in the defense of such action.#
History
Code 1981, § 14-11-806, enacted by Ga. L. 1993, p. 123, § 1.
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Current through: Including Acts of the 2025 Regular Session of the General Assembly.
Text read from t14-(v12)-2017-pdf.pdf, Volume V12, 2017 edition, page 1184; merge action: carried; file SHA-256 f2fad2b71b39.
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