If a corporation indemnifies or advances expenses to a director under section 504.852, 504.853, 504.854, or 504.855 in connection with a proceeding by or in the right of the corporation, the corporation shall report the indemnification or advance in writing to the members with or before the notice of the next meeting of members.
Iowa Code § 504.1612
Report of indemnification to members
Known as the Revised Iowa Nonprofit Corporation Act
The act spans §§ 504–504 (189 sections).
2004 Acts, ch 1049, §174, 192
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.