215.518 Court-ordered indemnification.
113 words·~1 min read·
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215.518 Court-ordered indemnification.
(1)Except as provided otherwise by written agreement between the director or officer and the mutual association, a director or officer who is a party to a proceeding may apply for indemnification to the court conducting the proceeding or to another court of competent jurisdiction. Application shall be made for an initial determination by the court under s. 215.514
(5)or for review by the court of an adverse determination under s. 215.514
(1),
(2),
(3),
(4)or
(6). After receipt of an application, the court shall give any notice it considers necessary.
(2)The court shall order indemnification if it determines any of the following: