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501.408 Indemnification.

A cooperative may indemnify a present or former director, officer, employee, or agent in the manner and in the instances authorized in sections 490.850 through 490.858, provided that where these sections provide for action by the shareholders these sections are applicable to actions by the members, and where these sections refer to the cooperative* these sections are applicable to a cooperative.

Section History: Recent form

96 Acts, ch 1010, §29


*Word "corporation" probably intended; corrective legislation is pending

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Last update: Mon Jan 27 16:05:08 CST 1997
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