§ 26-29-208 — No personal liability

Wyoming § 26-29-208

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 29: FRATERNAL BENEFIT SOCIETIES

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(a) The officers and members of the supreme governing body
or any subordinate body of a society shall not be personally
liable for any benefits provided by a society.
(b) Any person may be indemnified and reimbursed by any
society for expenses reasonably incurred by, and liabilities
imposed upon, the person in connection with or arising out of
any action, suit or proceeding, whether civil, criminal,
administrative or investigative, or threat thereof, in which the
person may be involved by reason of the fact that he is or was a
director, officer, employee or agent of the society or of any
firm, corporation or organization which he served in any
capacity at the request of the society. Unless the person acted
in good faith for a purpose the person reasonably believed to be
in or not opposed to the best interests of the society and, in a
criminal action or proceeding, in addition, had no reasonable
cause to believe that his conduct was unlawful, a person shall
not be so indemnified or reimbursed:
(i) In relation to any matter in an action, suit or
proceeding as to which he shall finally be adjudged to be or
have been guilty of breach of a duty as a director, officer,
employee or agent of the society; or
(ii) In relation to any matter in an action, suit or
proceeding, or threat thereof, which has been made the subject
of a compromise settlement.
(c) The determination whether the conduct of a person met
the standard required in order to justify indemnification and
reimbursement in relation to any matter described in paragraph
(b)(i) or (ii) of this section may only be made by the supreme
governing body or board of directors by a majority vote of a
quorum consisting of persons who were not parties to the action,
suit or proceeding or by a court of competent jurisdiction. The
termination of any action, suit or proceeding by judgment,
order, settlement, conviction, or upon a plea of no contest, as
to the person shall not in itself create a conclusive
presumption that the person did not meet the standard of conduct
required in order to justify indemnification and reimbursement.
The foregoing right of indemnification and reimbursement shall
not be exclusive of other rights to which the person may be
entitled as a matter of law and shall inure to the benefit of
his heirs, executors and administrators.
(d) A society may purchase and maintain insurance on
behalf of any person who is or was a director, officer, employee
or agent of the society, or who is or was serving at the request
of the society as a director, officer, employee or agent of any
other firm, corporation or organization against any liability
asserted against the person and incurred by him in any official
capacity or arising out of his status as enumerated above,
whether or not the society would have the power to indemnify the
person against the liability under this section.