There is a newer version of the Iowa Code
2011 Iowa Code
TITLE XII BUSINESS ENTITIES
SUBTITLE 3 ASSOCIATIONS
CHAPTER 501 CLOSED COOPERATIVES
501.413 Mandatory indemnification.
IA Code § 501.413 What's This?
501.413 Mandatory indemnification.
A cooperative shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the director is or was a director of the cooperative.
98 Acts, ch 1152, §22, 69; 2003 Acts, ch 66, §18
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