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2019 Hawaii Revised Statutes
TITLE 23. CORPORATIONS AND PARTNERSHIPS
425E. Uniform Limited Partnership Act
425E-1005 Proceeds and expenses.
Universal Citation: HI Rev Stat § 425E-1005 (2019)
§425E-1005 Proceeds and expenses. (a) Except as otherwise provided in subsection (b):
(1) Any proceeds or other benefits of a derivative action, whether by judgment, compromise, or settlement, belong to the limited partnership and not to the derivative plaintiff; and
(2) If the derivative plaintiff receives any proceeds, the derivative plaintiff shall immediately remit them to the limited partnership.
(b) If a derivative action is successful in whole or in part, the court may award the derivative plaintiff reasonable expenses, including reasonable attorney's fees, from the recovery of the limited partnership. [L 2003, c 210, pt of §1]
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