(1) Except as otherwise provided in subsection (2) of this section:
Any proceeds or other benefits of a derivative action to enforce a right of a limitedcooperative association, whether by judgment, compromise, or settlement, belong to the association and not to the plaintiff; and
If the plaintiff in the derivative action receives any proceeds, the plaintiff shall immediately remit them to the association.
If a derivative action to enforce a right of a limited cooperative association is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney fees and costs, from the recovery of the association if not otherwise awarded against the defendant.
On the termination of a derivative proceeding commenced pursuant to this part 13,where the court finds that the proceeding was commenced or maintained without reasonable cause or for an improper purpose, the court may order the plaintiff to pay any of the defendant's reasonable expenses, including attorney fees, incurred by the defendant in connection with the defense of the proceeding.
Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 810, § 1, effective April 2, 2012.