On termination of a derivative proceeding, the court may do either of the following: 1. Order the corporation to pay the plaintiff’s reasonable expenses, including attorney fees incurred in the proceeding, if itfinds that the proceeding has resulted in a substantial benefit to the corporation. 2. Order the plaintiff to pay any defendant’s reasonable expenses, including attorney fees incurred in defending the proceeding, ifit finds that the proceeding was commenced or maintained without reasonable cause or for an improper purpose.
‹ Prev All Iowa sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.