Oklahoma § 18-2053 - Derivative action - Expenses - Disposition of proceeds
Full text of Oklahoma Oklahoma Statutes § 18-2053 — Derivative action - Expenses - Disposition of proceeds, with citation guidance and answers to common questions.
§ 18-2053. Derivative action - Expenses - Disposition of proceeds
A. 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
attorneys' fees, and shall direct him to remit to the limited
liability company the remainder of those proceeds received by him.
B. In any action hereafter instituted in the right of any
domestic or foreign limited liability company by a member or members
thereof, the court having jurisdiction, upon final judgment and a
finding that the action was brought without reasonable cause, may
require the plaintiff or plaintiffs to pay to the parties named as
defendants the reasonable expenses, including attorneys' fees,
incurred by them in the defense of such action.
Added by Laws 1992, c. 148, § 54, eff. Sept. 1, 1992.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 18-2053
What does Oklahoma Statutes § 18-2053 cover?
Section 18-2053 ("Derivative action - Expenses - Disposition of proceeds") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. 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 Oklahoma § 18-2053?
A common citation format is "Oklahoma Statutes § 18-2053" (Oklahoma). 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 Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 18-2053 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma 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 Oklahoma.