Montana § 35-12-1404 - Proceeds And Expenses
Full text of Montana Montana Code Annotated § 35-12-1404 — Proceeds And Expenses, with citation guidance and answers to common questions.
§ 35-12-1404. Proceeds And Expenses
Proceeds and expenses. (1) Except as provided in subsection (2): (a) 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; (b) if the derivative plaintiff receives any proceeds, the derivative plaintiff shall immediately remit them to the limited partnership. (2) If a derivative action is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney fees, from the recovery of the limited partnership.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 35-12-1404
What does Montana Code Annotated § 35-12-1404 cover?
Section 35-12-1404 ("Proceeds And Expenses") is part of the Montana Code Annotated, the codified statutory law of Montana. 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 Montana § 35-12-1404?
A common citation format is "Montana Code Annotated § 35-12-1404" (Montana). 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 Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 35-12-1404 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana 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 Montana.