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Utah Code Title 16. Corporations § 16-6a-907. Indemnification of officers, employees, fiduciaries, and agents

Current as of May 05, 2022 | Updated by FindLaw Staff

Unless a nonprofit corporation's articles of incorporation provide otherwise:

(1) to the same extent as a director, an officer of the nonprofit corporation is entitled to:

(a) mandatory indemnification under Section 16-6a-903;  and

(b) apply for court-ordered indemnification under Section 16-6a-905;

(2) a nonprofit corporation may indemnify and advance expenses to an officer, employee, fiduciary, or agent of the nonprofit corporation to the same extent as to a director;  and

(3) a nonprofit corporation may indemnify and advance expenses to an officer, employee, fiduciary, or agent who is not a director to a greater extent if:

(a) not inconsistent with public policy;  and

(b) provided for by:

(i) its articles of incorporation or bylaws;

(ii) general or specific action of its board of directors;  or

(iii) contract.

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Cite this article: FindLaw.com - Utah Code Title 16. Corporations § 16-6a-907. Indemnification of officers, employees, fiduciaries, and agents - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-16-corporations/ut-code-sect-16-6a-907/

Read this complete Utah Code Title 16. Corporations § 16-6a-907. Indemnification of officers, employees, fiduciaries, and agents on Westlaw. Westlaw subscription required.

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