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O.C.G.A. § 14-9-1004 — Expenses | Georgia Code

O.C.G.A. § 14-9-1004 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 14 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Section 9. Revised Uniform Limited Partnership Act, 14-9-100 through 14-9-1204.

ARTICLE 10 DERIVATIVE ACTIONS

14-9-1004. Expenses.

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 to remit to the limited partnership the remainder of those proceeds received by him.

(Code 1981, §14-9-1004, enacted by Ga. L. 1988, p. 1016, § 1.)

COMMENT

Note to Georgia Revised Uniform Limited Partnership Act This section permits payment of expenses to a successful plaintiff, and requires the plaintiff to remit to the limited partnership proceeds of the action received by him in excess of expenses.

Prior Georgia Law There is no provision under prior Georgia law for partnership derivative suits.

Comparison With Official RULPA This section is the same as the official version.

Cross-References Limited partner derivative action permitted: § 14-9-901. Indemnification of partners: § 14-9-108.

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This Georgia Code resource is curated by Graham W. Syfert, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.