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a� <br />JUL-24-2003 10:50 RATW I ROSZAK MALONEY <br />Minnesota Statutes 2UU2} 317A. :U l <br />612 339 0038 P. to <br />rage 4 014 <br />the power to direct or cause the direction of the management or <br />policies of the corporation, the determination whether <br />indemnification of this person iB required because the criteria <br />in subdivision 2 have been satiefied and whether this person is <br />entitled to payment or reimbursement of expenses in advance of <br />the final disposition of a proceeding under subdivision 3 may be.. <br />made by an annually appointed committee of the board, having at <br />least one member who is a director. The committee shall report <br />at least annually to the board concerning its actions. <br />S ubd . 7. Insurance, A corporation may buy and <br />maintain insurance on behalf of a person in that person's <br />official capacity against liability asserted against arid <br />incurred by the person in or arising from that capacitor, whether <br />or not the corporation would have been required to indemnify the <br />person against the liability under this section. <br />Subd. 8. Disclosure, A corporation with members with <br />voting rights that indemnifies or advances expenses to a person <br />under this section in connection with a proceeding by or on <br />behalf of the corporation shall report to the members in writing <br />the amount of the indemnification or advance and to whom and on <br />whose behalf it was paid not later than the next meeting of <br />members. <br />Surd. 9. indemmification of other persons. This <br />section does not limit the power of a corporation to indemnify <br />other persons. <br />HIST 1989 c--304 s 83 <br />Copyright 2002 by the Office of Revisor of Statutes, State of Minnesota. <br />h " - fluruvw revi 1znr I ea gtntp, m 11 P./PtgN /117 A / 3 ? '7/'?A/?001 <br />