§ 13.1-1233. Payment of and security for expenses
On termination of a derivative proceeding, the court shall:
1. Order the business trust to pay the plaintiff's reasonable expenses, including counsel fees, incurred in the proceeding if it finds that the proceeding has resulted in a substantial benefit to the business trust; or
2. Order the plaintiff or the plaintiff's attorney to pay any defendant's reasonable expenses, including counsel fees, incurred in defending the proceeding if it finds that the proceeding was commenced or maintained arbitrarily, vexatiously or not in good faith.
(2002, c. 621.)
Sections: Previous 13.1-1226 13.1-1227 13.1-1228 13.1-1229 13.1-1230 13.1-1231 13.1-1232 13.1-1233 13.1-1234 13.1-1235 13.1-1236 13.1-1237 13.1-1238 13.1-1238.1 13.1-1238.2 NextLast modified: April 2, 2009