Section 47-21-21.4 - Indemnification of successful director, officer, agent, or employee for expensesincurred in proceeding. - South-dakota Statutes

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-21 > Statute-47-21-21-4

47-21-21.4. Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding. 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.

Source: SL 2007, ch 260, § 3; SL 2009, ch 232, § 3.

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-21 > Statute-47-21-21-4

47-21-21.4. Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding. 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.

Source: SL 2007, ch 260, § 3; SL 2009, ch 232, § 3.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > South-dakota > Title-47 > Chapter-21 > Statute-47-21-21-4

47-21-21.4. Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding. 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.

Source: SL 2007, ch 260, § 3; SL 2009, ch 232, § 3.