New Jersey § 42:2c-72
Full text of New Jersey New Jersey Statutes § 42:2c-72, with citation guidance and answers to common questions.
§ 42:2c-72.
Proceeds and Expenses. a. Except as otherwise provided in subsection b. of this section: (1) any proceeds or other benefits of a derivative action under section 68 of this
act, 1 whether by judgment, compromise, or settlement, belong to the limited liability company
and not to the plaintiff; and (2) if the plaintiff receives any proceeds, the plaintiff shall remit them immediately
to the company. b. If a derivative action under section 68 of this act is successful in whole or in
part, the court may award the plaintiff reasonable expenses, including reasonable
attorney's fees and costs, from the recovery of the limited liability company. 1
L.2012, c. 50 (N.J.S.A. § 42:2C-68).
Frequently Asked Questions About New Jersey § 42:2c-72
What does New Jersey Statutes § 42:2c-72 cover?
Section 42:2c-72 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 42:2c-72?
A common citation format is "New Jersey Statutes § 42:2c-72" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 42:2c-72 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.