Iowa Code (Last Updated: December 05, 2016) |
Title XII. BUSINESS ENTITIES |
Chapter 504. REVISED IOWA NONPROFIT CORPORATION ACT |
Section 504.853. Mandatory indemnification.
Latest version.
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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 the director is or was a director of the corporation against reasonable expenses actually incurred by the director in connection with the proceeding.