16-6a-907. Indemnification of officers, employees, fiduciaries, and agents.

145 words·~1 min read·/ut/title-16/chapter-6a/16-6a-907

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Unless a nonprofit corporation's articles of incorporation provide otherwise:

(1)to the same extent as a director, an officer of the nonprofit corporation is entitled to:

(a)mandatory indemnification under Section 16-6a-903 ; and

(b)apply for court-ordered indemnification under Section 16-6a-905 ;

(2)a nonprofit corporation may indemnify and advance expenses to an officer, employee, fiduciary, or agent of the nonprofit corporation to the same extent as to a director; and

(3)a nonprofit corporation may indemnify and advance expenses to an officer, employee, fiduciary, or agent who is not a director to a greater extent if:

(a)not inconsistent with public policy; and

(b)provided for by:

(i)its articles of incorporation or bylaws;

(ii)general or specific action of its board of directors; or

(iii)contract.

Amended by Chapter 197 , 2002 General Session