Arkansas § 4-47-1005 - Proceeds and expenses.
Full text of Arkansas Arkansas Code of 1987 Annotated § 4-47-1005 — Proceeds and expenses., with citation guidance and answers to common questions.
§ 4-47-1005. Proceeds and expenses.
Except as otherwise provided in subsection (b): 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; if the derivative plaintiff receives any proceeds, the derivative plaintiff shall immediately remit them to the limited partnership. 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: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 4-47-1005
What does Arkansas Code of 1987 Annotated § 4-47-1005 cover?
Section 4-47-1005 ("Proceeds and expenses.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 4-47-1005?
A common citation format is "Arkansas Code of 1987 Annotated § 4-47-1005" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 4-47-1005 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.