Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-804
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-804
- including: means includes or including by way of illustration and not by way of limitation. See
- 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.
If a derivative action 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:
(1) May award the plaintiff reasonable expenses, including reasonable attorney’s fees; and
(2) Shall direct the plaintiff to remit to the limited liability company the remainder of those proceeds.