Maine Revised Statutes Title 13-C Sec. 757 – Payment of expenses
Current as of: 2023 | Check for updates
|
Other versions
On termination of the derivative proceeding the court may: [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
1. Corporation to pay plaintiff’s expenses. Order the corporation to pay the plaintiff’s expenses incurred in the proceeding if it finds that the proceeding has resulted in a substantial benefit to the corporation;
[PL 2007, c. 289, §12 (AMD).]
Terms Used In Maine Revised Statutes Title 13-C Sec. 757
- 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 section 758, in the right of a foreign corporation. See Maine Revised Statutes Title 13-C Sec. 751
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Plaintiff: The person who files the complaint in a civil lawsuit.
2. Plaintiff to pay defendant‘s expenses. Order the plaintiff to pay any defendant’s expenses incurred in defending the proceeding if it finds that the proceeding was commenced or maintained without reasonable cause or for an improper purpose; or
[PL 2007, c. 289, §12 (AMD).]
3. Improper purpose. Order a party to pay an opposing party’s expenses incurred because of the filing of a pleading, motion or other paper, if it finds after reasonable inquiry that the pleading, motion or other paper was not well grounded in fact or warranted by existing law or a good faith argument for the extension, modification or reversal of existing law and was interposed for an improper purpose, such as to harass or cause unnecessary delay or needless increase in the cost of litigation.
[PL 2007, c. 289, §12 (AMD).]
SECTION HISTORY
PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF). PL 2007, c. 289, §12 (AMD).