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Current as of January 01, 2022 | Updated by FindLaw Staff
(a) Indemnification.--A credit union shall be governed by the provisions of 15 Pa.C.S. Ch. 17 Subch. D (relating to indemnification).
(b) Exoneration from liability of volunteer officers.--Volunteer officers of Federal, State and out-of-State credit unions shall be entitled to the protection and rights set forth in 15 Pa.C.S. § 513 (relating to personal liability of directors) if the membership adopts a bylaw to that effect.
(c) Standard of care and personal liability of directors.--See 15 Pa.C.S. §§ 512 (relating to standard of care and justifiable reliance) and 513.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 17 Pa.C.S.A. Credit Unions § 712. Indemnification and exoneration from liability of directors and officers - last updated January 01, 2022 | https://codes.findlaw.com/pa/title-17-pacsa-credit-unions/pa-csa-sect-17-712/
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