(at the request of House Interim Committee on Judiciary for Oregon State Bar Business Law Section)
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Bill Title:
Relating to claims of directors in connection with proceedings; and declaring an emergency.
Catchline/Summary:
Prohibits corporation or cooperative from denying director indemnification or payments for expenses in connection with proceeding if corporation or cooperative previously granted indemnification or payments. Prohibits corporation or cooperative from denying director indemnification or payments for expenses in connection with proceeding if corporation or cooperative previously granted indemnification or payments. Provides exception if, at time act or omission occurred that gave rise to proceeding, corporation's or cooperative's articles of incorporation, bylaws or resolution explicitly authorized corporation or cooperative to deny indemnification or payment after act or omission occurs.
Declares emergency, effective on passage.
Oregon Legislative Assembly - Public Testimony Registration Form
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HB 2681
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