15 Pa. C.S. § 5743

Current through P.A. Acts 2023-66
Section 5743 - Mandatory indemnification
(a) General rule.--To the extent that a present or former director or officer of a nonprofit corporation has been successful on the merits or otherwise in defense of any action or proceeding referred to in section 5741 (relating to third-party actions) or 5742 (relating to derivative and corporate actions) or in defense of any claim, issue or matter therein, the director or officer shall be indemnified against expenses (including attorney fees) actually and reasonably incurred by the director or officer in connection therewith.
(b) Prospective application.--The limitation of the scope of subsection (a) to a present or former director or officer applies only to acts occurring after (insert the effective date of this act).
(c) Cross reference.--See section 6145 (relating to applicability of certain safeguards to foreign corporations).

15 Pa.C.S. § 5743

Amended by P.L. TBD 2022 No. 122, § 88, eff. 1/2/2023.
1972, Nov. 15, P.L. 1063, No. 271, § 7743, effective in 90 days. Renumbered and amended 1988, Dec. 21, P.L. 1444, No. 177, § 103, effective 10/1/1989. Reenacted and amended 1990, Dec. 19, P.L. 834, No. 198, § 102, imd. effective. Amended 1992, Dec. 18, P.L. 1333, No. 169, § 3, effective in 60 days.