ILCS » Chapter 805 · Act 180
Illinois Compiled Statutes

805 ILCS 180/40-15 (2026)

Expenses

✓ current as of May 2026
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(805 ILCS 180/40-15)
    Sec. 40-15. 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 attorney's fees, and shall direct the plaintiff to remit to the limited liability company the remainder of those proceeds received by the plaintiff.
(Source: P.A. 87-1062.)


 
    (805 ILCS 180/Art. 45 heading)
Article 45. Foreign Limited Liability Companies

    
Notes of Decisions
Cited in 6 cases (2 in the last 5 years), 2015–2022 · leading case: Stevens v. McGuireWoods L.L.P., 2015 IL 118652 (Ill. 2015).
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Stevens v. McGuireWoods L.L.P., 2015 IL 118652 (Ill. 2015). · cites it 2× “805 ILCS 180/40-15 (West 2008). In other words, once the costs of bringing a derivative suit are paid, everything recovered belongs to and remits to the limited liability company (LLC), not to the nominal plaintiffs.”
Stevens v. McGuireWoods L.L.P., 2015 IL 118652 (Ill. 2015). · cites it 2× “805 ILCS 180/40-15 (West 2008). In other words, once the costs of bringing a derivative suit are paid, everything recovered belongs to and remits to the LLC, not to the nominal plaintiffs.”
Tsai v. Karlik, 2022 IL App (1st) 200845-U (Ill. App. Ct. 2022). · cites it 3× “Plaintiffs filed a petition for attorney fees “as provided for in the Illinois Limited Liability Company Act [(LLC Act)], 805 ILCS 180/40-15 et seq. [West 2018.]” The petition asserted that plaintiffs’ derivative complaint included counts for an injunction, statutory expulsion,…”
Stevens v. McGuireWoods L.L.P., 2015 IL 118652 (Ill. 2015). · cites it 2× “805 ILCS 180/40-15 (West 2008). In other words, once the costs of bringing a derivative suit are paid, everything recovered belongs to and remits to the LLC, not to the nominal plaintiffs.”
Techno Magnetic Media & Comput. Supplies, Inc v. Williams, 2022 IL App (1st) 201138-U (Ill. App. Ct. 2022). “See also 805 ILCS 180/40-15 (West 2018) (the Limited Liability Company Act (LLC Act) expressly states that once the nominal plaintiff’s fees and expenses have been paid, the trial court “shall direct the plaintiff to remit to the limited liability company” the remainder of all…”
Pistone v. Carl, 2020 IL App (1st) 181183-U (Ill. App. Ct. 2020). “805 ILCS 180/40-15 (West 2014); Meyer v. Fleming, 327 U.”
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