South Dakota § 49-37-25 Indemnification of directors, officers, employees or agents.

South Dakota Statutes

§ 49-37-25 — Indemnification of directors, officers, employees or agents.

South Dakota·Title 49 PUBLIC UTILITIES AND CARRIERS·Ch. 49-36 CONSUMERS POWER DISTRICT POWERS AND OPERATIONS

A consumers power district may indemnify any person who was or is a party or is threatened to be made a party to any pending or completed action, suit or proceeding, whether civil, criminal, administrative, or investigative by reason of the fact that he is or was a director, officer, employee, or agent of the consumers power district or is or was serving at the request of the consumers power district as a director, officer, employee, or agent or other enterprise, against expenses including attorneys' fees, judgments, fines, and amounts paid in settlement actually and reasonably incurred by him in connection with the action, suit, or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the consumers power district and, 

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A consumers power district may indemnify any person who was or is a party or is threatened to be made a party to any pending or completed action, suit or proceeding, whether civil, criminal, administrative, or investigative by reason of the fact that he is or was a director, officer, employee, or agent of the consumers power district or is or was serving at the request of the consumers power district as a director, officer, employee, or agent or other enterprise, against expenses including attorneys' fees, judgments, fines, and amounts paid in settlement actually and reasonably incurred by him in connection with the action, suit, or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the consumers power district and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. However, this section does not apply to any action by or in the right of the consumers power district.

South Dakota § 49-37-25 (Indemnification of directors, officers, employees or agents.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.