South Carolina Statutes
§ 33-46-530 — Indemnification of expenses of successful director's defense or proceeding.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 46 TELEPHONE COOPERATIVE ACT
Unless limited by its articles of incorporation, a telephone cooperative shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which he was a party because he is or was a director of the cooperative against reasonable expenses incurred by him in connection with the proceeding.
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South Carolina § 33-46-530 (Indemnification of expenses of successful director's defense or proceeding.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1994 Act No. 392, SECTION 1.
Nearby Sections
15
§ 33-46-10
Short title.§ 33-46-100
Rights, privileges, and responsibilities.§ 33-46-20
Definitions.§ 33-46-210
Purpose.§ 33-46-220
Organization.§ 33-46-230
Articles of incorporation.§ 33-46-240
Naming of telephone cooperative.§ 33-46-30
Notice of meeting; waiver.§ 33-46-300
Powers of telephone cooperatives.§ 33-46-330
Sale of assets; procedures.§ 33-46-400
Membership of telephone cooperative.