Statutes, codes, and regulations
Code of Laws of South Carolina 1976
Title 33 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONSChapter 46 - TELEPHONE COOPERATIVE ACT
Article 5 - DIRECTORS
Section 33-46-530 - Indemnification of expenses of successful director's defense or proceeding

S.C. Code § 33-46-530

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Current through 2024 Act No. 225.
Section 33-46-530 - Indemnification of expenses of successful director's defense or proceeding

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.

S.C. Code § 33-46-530

1994 Act No. 392, Section 1.