Va. Code § 13.1-1233

Current with changes from the 2024 legislative session through ch. 845

Section 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.

Va. Code § 13.1-1233

2002, c. 621.

Amended by Acts 2002, § c. 621.