(805 ILCS 215/1005)
Sec. 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;
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(2) if the derivative plaintiff receives any
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| proceeds, the derivative plaintiff shall immediately remit them to the limited partnership.
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(b) If a derivative action is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney's fees, from the recovery of the limited partnership.
(Source: P.A. 93-967, eff. 1-1-05.)
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