Iowa Code 504.637 – Payment of expenses
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On termination of a derivative proceeding, the court may do either of the following:
1. Order the corporation to pay the plaintiff‘s reasonable expenses, including attorney fees incurred in the proceeding, if it finds that the proceeding has resulted in a substantial benefit to the corporation.
Terms Used In Iowa Code 504.637
- Corporation: means a public benefit, mutual benefit, or religious corporation. See Iowa Code 504.141
- 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.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Proceeding: includes a civil suit and criminal, administrative, or investigatory actions. See Iowa Code 504.141
2. Order the plaintiff to pay any defendant‘s reasonable expenses, including attorney fees incurred in defending the proceeding, if it finds that the proceeding was commenced or maintained without reasonable cause or for an improper purpose.