(a) Proceeds.-- Except as provided in subsection (b): (1) any proceeds or other benefits of a derivative action, whether by judgment, compromise or settlement, belong to the limited partnership and not to the plaintiff; and (2) if the plaintiff or its counsel receives any proceeds, the proceeds shall be remitted immediately to the partnership. (b) Expenses.-- If a derivative action 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 limited partnership, but in no event shall the attorney fees awarded exceed a reasonable proportion of the value of the relief, including nonpecuniary relief, obtained by the plaintiff for the limited partnership. (c) Cross reference.-- See section 8615(c)(7) (relating to contents of partnership agreement). CHAPTER 87 ELECTING PARTNERSHIPS Sec. 8701. Scope and definition. 8702. Centralized management. 8703. Continuity of life. 8704. Free transferability of interests. 8705. Limited liability in certain cases. 8706. One person as both partner and employee. 8707. Modification by agreement. 8708. Taxation of electing partnerships. Effective Date. Section 304(a)(7) of Act 177 of 1988 provided that the amendments to Chapter 87 shall take effect immediately and shall be retroactive to July 10, 1981.
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