N.M. Stat. § 54-2A-1005

Proceeds and expenses.

Last amended: 2007Year: 2026Length: 89 wordsOfficial source
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 partnership and not to the derivative plaintiff; and (2) if the derivative plaintiff receives any proceeds, the derivative plaintiff shall immediately remit them to the limited partnership. B. If a derivative action is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney fees, from the recovery of the limited partnership.
N.M. Stat. § 54-2A-1005: Proceeds and expenses. | Justis AI