Iowa Code § 501.413
Mandatory indemnification
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2013
As of January 1, 2012
A cooperative shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the director is or was a director of the cooperative.
A cooperative shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the director is or was a director of the cooperative.
98 Acts, ch 1152, §22, 69; 2003 Acts, ch 66, §18
98 Acts, ch 1152, §22, 69; 2003 Acts, ch 66, §18
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.