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Idaho Code · § 30-25-806 — PROCEEDS AND EXPENSES

30-25-806. 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 court’s approval.

Source notes
History and annotations

30-25-806, added 2015, ch. 243, sec. 50, p. 896.

Official source for this version

Source captured 2026-09-26. Open the official source.

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