Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding.

1. Law
2. South Dakota Codified Laws
3. Corporations
4. Rural Electric Cooperatives
5. Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding.

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.

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