Sec. 7. If a corporation indemnifies or advances expenses to a director under IC 23-17-16-1 through IC 23-17-16-11 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.
Ind. Code § 23-17-27-7
Indemnification or advance of expenses to director; report to members
Known as the Indiana Nonprofit Corporation Act
The act spans §§ 23-17-10-1 to 23-17-9-2 (200 sections).
As added by P.L.179-1991, SEC.1.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.