§ 238.342

Title XIV ROADS AND WATERWAYS Chapter 238 • Effective - 30 May 1990, see footnote 238.342. Indemnification of directors, employees. — 1. The corporation may indemnify any current or former director or employee for expenses actually and reasonably incurred by him in connection with any claim asserted against him in the absence of his gross negligence, intentional misconduct, or other willful and wrongful acts or omissions. 2. If the corporation has not fully indemnified him, the court in the proceeding in which any claim against such director or employee has been asserted or any court having the jurisdiction of an action instituted by such director or employee on his claim for indemnity may assess indemnity against the corporation, its receiver, or trustee for expenses authorized by this section. ­­-------- (L. 1990 S.B. 479 & 649 § 27) Effective 5-30-90