51A-3-31. Indemnification of officers, directors, or employees.A bank may indemnify by purchase of insurance or otherwise any current or former officer, director, employee or agent, his heirs, personal representatives and successors in interest in the same manner and to the same extent as a business corporation may indemnify, pursuant to the provisions of §§47-1A-101 to 47-1A-863.3, inclusive, 47-1A-1001 to 47-1A-1021, inclusive, and §§47-1A-1201 to 47-1A-1202.6, inclusive. Source: SL 1969, ch 11, §3.25; SL 1970, ch 265, §24; SL 1988, ch 377, §74; SDCL §51-17-28; SL 2005, ch 202, §21.
South Dakota Legal Code