South Carolina Statutes
§ 33-36-630 — Indemnification of board members who become parties to proceedings.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 36 CORPORATIONS NOT-FOR-PROFIT FINANCED BY FEDERAL OR STATE LOANS
Unless limited by its articles of incorporation, a corporation not-for-profit must indemnify against reasonable expenses incurred by a board member who is successful on the merits or otherwise in the defense of a proceeding to which he is a party because of his board membership.
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South Carolina § 33-36-630 (Indemnification of board members who become parties to proceedings.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2000 Act No. 404, SECTION 2.
Nearby Sections
15
§ 33-36-10
"Corporation not-for-profit" defined.§ 33-36-1050
Winding up and settling affairs.§ 33-36-1060
Notice of winding up proceedings.§ 33-36-1070
Articles of dissolution.§ 33-36-1320
Petition for charter.§ 33-36-1330
Appointment or election of board members.§ 33-36-1340
Election of commissioners.§ 33-36-1350
Election of officers by the board.