Sec. 4. (a) If a derivative action under this chapter 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
attorney‘s fees, and shall direct the plaintiff to remit to the limited
partnership the
remainder of those proceeds received by the plaintiff.
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Terms Used In Indiana Code 23-16-11-4
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
As added by P.L.147-1988, SEC.1.
