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2018 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 46 - TELEPHONE COOPERATIVE ACT
Section 33-46-530. Indemnification of expenses of successful director's defense or proceeding.
Universal Citation: SC Code § 33-46-530 (2018)
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.
HISTORY: 1994 Act No. 392, Section 1.
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