Complete Story
 

04/14/2011

Article XI - INDEMNIFICATION AND INSURANCE

Section 1. Indemnification in General. The Association shall indemnify any person who was, is, or is threatened to be made a party to any legal proceedings, by reason of the fact that he is or was a director, officer, or member of a committee of the Association, or is or was serving in any other capacity at the request of the Association, against expenses (including attorney's fees and costs), judgements, fines, and amounts paid in settlement, actually and reasonably incurred by him in connection with any such legal proceeding except when such person is found to have been grossly negligent or to haveengaged in willful misconduct to the fullest extent permitted by the Pennsylvania Non-Profit Corporation Law

Section 2. Insurance. The Association shall have power to purchase and maintain insurance on behalf of any person who is or was a director, officer, committee member, employee or agent of the Association, against any liabilities asserted against him and incurred by him in any such capacity, or arising out of his status as such, whether or not the Association would have the power to indemnify him against such liability.

Printer-Friendly Version