Montana § 35-18-333 Application

Montana Statutes

§ 35-18-333 — Application

Montana § 35-18-333

Title 35CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Ch. 18RURAL COOPERATIVE UTILITIES

Part 3Operation -- Members, Trustees, and Officers

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Bluebook

Mont. Code Ann. § 35-18-333 (2026).

Text

35-18-333 . Application.

(1)A provision treating a cooperative's indemnification of trustees or officers that is contained in its articles of incorporation, its bylaws, a resolution of its shareholders or board of directors, a contract, or other instrument is valid only if and to the extent that the provision is consistent with 35-18-327 through 35-18-333 . If articles of incorporation limit indemnification, indemnification is valid only to the extent that it is consistent with the articles of incorporation.

(2)Sections 35-18-327 through 35-18-333 do not limit a cooperative's power to pay or reimburse expenses incurred by a trustee or officer in connection with the trustee's or officer's appearance as a witness in a proceeding at a time when the trustee or officer has not been made a nam

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35-18-333 . Application. (1) A provision treating a cooperative's indemnification of trustees or officers that is contained in its articles of incorporation, its bylaws, a resolution of its shareholders or board of directors, a contract, or other instrument is valid only if and to the extent that the provision is consistent with 35-18-327 through 35-18-333 . If articles of incorporation limit indemnification, indemnification is valid only to the extent that it is consistent with the articles of incorporation.
(2) Sections 35-18-327 through 35-18-333 do not limit a cooperative's power to pay or reimburse expenses incurred by a trustee or officer in connection with the trustee's or officer's appearance as a witness in a proceeding at a time when the trustee or officer has not been made a named defendant or respondent to the proceeding.