Iowa Code 504.1612 – Report of indemnification to members
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Iowa Code 504.1612
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means a public benefit, mutual benefit, or religious corporation. See Iowa Code 504.141
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Proceeding: includes a civil suit and criminal, administrative, or investigatory actions. See Iowa Code 504.141
504.1612 Report of indemnification to members.
If a corporation indemnifies or advances expenses to a director under § 504.852,
504.853, 504.854, or 504.855 in connection with a proceeding by or in the right of the corporation, the corporation shall report the indemnification or advance in writing to the members with or before the notice of the next meeting of members.
2004 Acts, ch 1049, §174, 192
If a corporation indemnifies or advances expenses to a director under § 504.852,
504.853, 504.854, or 504.855 in connection with a proceeding by or in the right of the corporation, the corporation shall report the indemnification or advance in writing to the members with or before the notice of the next meeting of members.
2004 Acts, ch 1049, §174, 192