Iowa Code § 498.36
Indemnification
Iowa · Iowa Code Chapter 498 — Nonprofit Cooperative Associations · Status: effective
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- Citation
- Iowa Code § 498.36, Indemnification, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2260992
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Full text
A cooperative association operating under this chapter may indemnify any present or former director, officer, employee, member, or volunteer in the manner and in the instances authorized in sections 490.850 through 490.859, provided that where sections 490.850 through 490.859 provide for action by shareholders the sections are applicable to action by voting members of the cooperative association, and where sections 490.850 through 490.859 refer to the corporation organized under chapter 490 the sections are applicable to the cooperative association organized under this chapter, and where sections 490.850 through 490.859 refer to the director the sections are applicable to a director, officer, employee, member, or volunteer of the cooperative association organized under this chapter.