Payment of Expenses

  1. Law
  2. Georgia Code
  3. Corporations, Partnerships, and Associations
  4. Business Corporations
  5. Shareholders
  6. Derivative Proceedings
  7. Payment of Expenses

Checkout our iOS App for a better way to browser and research.

On termination of the derivative proceeding the court may:

  1. Order the corporation to pay the plaintiff's reasonable expenses (including attorneys' fees) incurred in the proceeding if it finds that the proceeding has resulted in a substantial benefit to the corporation; or
  2. Order the plaintiff to pay any defendant's reasonable expenses (including attorneys' fees) incurred in defending the proceeding if it finds that the proceeding was commenced or maintained without reasonable cause or for an improper purpose.

(Code 1981, §14-2-746, enacted by Ga. L. 1988, p. 1070, § 1.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 19 Am. Jur. 2d, Corporations, § 2133 et seq.

ALR.

- Validity of statutory provision for attorneys' fees, 90 A.L.R. 530.

Right of protective committee, its attorney, or employee, representing stockholders, bondholders, or other creditors, to compensation for expenses and services, 115 A.L.R. 559.

Attorneys' fees and other expenses incident to controversy respecting internal affairs of corporation as charge against the corporation, 152 A.L.R. 909; 39 A.L.R.2d 580.

Constitutionality, construction, and application of statutes requiring security for costs or expenses in case of stockholder's action in right of corporation, 159 A.L.R. 978.

Amount of attorneys' compensation in absence of contract or statute fixing amount, 57 A.L.R.3d 475.

Validity of statute allowing attorney's fee to successful claimant but not to defendant, or vice-versa, 73 A.L.R.3d 515.

Amount of attorneys' fees in matters involving commercial and general business activities, 23 A.L.R.5th 241.


Download our app to see the most-to-date content.