Vermont § 4136 - Proceeds and expenses
Full text of Vermont Vermont Statutes Online § 4136 — Proceeds and expenses, with citation guidance and answers to common questions.
§ 4136. Proceeds and expenses
- (a) Except as otherwise provided in subsection (b) of this section: (1) any proceeds or other benefits of a derivative action, 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 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. (c) A derivative action on behalf of a limited liability company may not be voluntarily
dismissed or settled without the approval of the court. (Added 2015, No. 17, § 2.)
Frequently Asked Questions About Vermont § 4136
What does Vermont Statutes Online § 4136 cover?
Section 4136 ("Proceeds and expenses") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 4136?
A common citation format is "Vermont Statutes Online § 4136" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 4136 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.