HB3866 - Tennessee: Civil Procedure

Companion Bill SB3982. Civil Procedure - Allows court to award certain expenses in derivative proceeding involving corporation and shareholders. - Amends TCA Title 48, Chapter 17. Fiscal Summary for *HB3866 / SB3982MINIMAL Bill Summary for *HB3866 / SB3982 The present law provisions governing proceedings against a corporation by a shareholder authorize the court may require the plaintiff to pay any defendant's reasonable expenses, including counsel fees, incurred in defending the proceeding if it finds that the proceeding was commenced without reasonable cause. This bill adds a provision for the plaintiff to recover expenses. Under this bill, the court may award the plaintiff reasonable expenses, including counsel fees, if: (1) The proceeding on behalf of the corporation results in the corporation taking some action requested by the plaintiff;[...]

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