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§ 47-17-23 Indemnification of successful director, officer, agent, or employee for expenses incurred in proceeding.

SD Codified L § 47-17-23 (2019) (N/A)
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47-17-23. 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, § 6; SL 2009, ch 232, § 6.

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§ 47-17-22 Circumstances under which directors, officers, agents, and employees may not be indemnified.
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