47-17-23. Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding.
58 words·~1 min read·
/sd/title-47/chapter-47-17/47-17-23A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A cooperative shall indemnify a director, officer, agent, or employee who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director, officer, agent, or employee was a party by reason of being a director, officer, agent, or employee of the cooperative, against reasonable expenses incurred in connection with the proceeding.