Unless limited by its articles of incorporation, a corporation 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 of being a director of the corporation, against reasonable expenses actually incurred by the director in connection with the proceeding.
ORS 65.394
Known as the Oregon Nonprofit Corporation Act
The act spans §§ 65–65 (202 sections).
1989 c.1010 §100; 2005 c.22 §46
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.