Florida Statutes 607.0746 – Proceeds and expenses
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 607.0746
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Derivative proceeding: means a civil suit in the right of a domestic corporation or, to the extent provided in…. See Florida Statutes 607.01401
- Expenses: means reasonable expenses of any kind that are incurred in connection with a matter. See Florida Statutes 607.01401
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Proceeding: includes a civil suit, a criminal action, an administrative action, and an investigatory action. See Florida Statutes 607.01401
On termination of the derivative proceeding the court may:
(1) Order the corporation to pay from the amount recovered in the derivative proceeding by the corporation the plaintiff‘s reasonable expenses, including reasonable attorney fees and costs, incurred in the derivative proceeding if it finds that, in the derivative proceeding, the plaintiff was successful in whole or in part; or
(2) Order the plaintiff to pay any of the defendant‘s reasonable expenses, including reasonable attorney fees and costs, incurred in defending the proceeding if it finds that the proceeding was commenced or maintained without reasonable cause or for an improper purpose.