Colorado § 7-80-718 - Payment of expenses - derivative proceeding.
Full text of Colorado Colorado Revised Statutes § 7-80-718 — Payment of expenses - derivative proceeding., with citation guidance and answers to common questions.
§ 7-80-718. Payment of expenses - derivative proceeding.
On the termination of a derivative proceeding commenced pursuant to this part 7, where the court finds that the proceeding has resulted in a substantial benefit to the limited liability company, the court may order the limited liability company to pay the plaintiff's reasonable expenses, including attorney fees, incurred by the plaintiff in connection with the maintenance of such proceeding. On the termination of a derivative proceeding commenced pursuant to this part 7, where the court finds that the proceeding was commenced or maintained without reasonable cause or for an improper purpose, the court may order the plaintiff to pay any of the defendant's reasonable expenses, including attorney fees, incurred by the defendant in connection with the defense of such proceeding.
Source: L. 2002: Entire section added, p. 1726, § 160, effective October 1.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 7-80-718
What does Colorado Revised Statutes § 7-80-718 cover?
Section 7-80-718 ("Payment of expenses - derivative proceeding.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. 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 Colorado § 7-80-718?
A common citation format is "Colorado Revised Statutes § 7-80-718" (Colorado). 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 Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 7-80-718 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado 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 Colorado.