501.413 Mandatory indemnification.
46 words·~1 min read·
/ia/chapter-501-closed-cooperatives/501-413A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A cooperative shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the director is or was a director of the cooperative.
Referred to in §501.414, 501.415, 501.417, 501.712