Oregon Statutes 62.466 – Mandatory indemnification of director
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Unless limited by its articles of incorporation, a cooperative 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 cooperative against reasonable expenses incurred by the director in connection with the proceeding. [1995 c.195 § 17]
Terms Used In Oregon Statutes 62.466
- Articles: means articles of incorporation, articles of conversion or articles of merger. See Oregon Statutes 62.015
- Cooperative: means a cooperative corporation that is subject to the provisions of this chapter. See Oregon Statutes 62.015