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2002_0812_packet
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civil, criminal, administrative, arbitration, or investigative <br />proceeding including a proceeding by or in the right of the <br />corporation. <br />(e) "Special legal counsel" means counsel who has not <br />represented the corporation or a related organization, or a <br />director, officer, member of a committee of the board, or <br />employee whose indemnification is in issue. <br />Subd. 2. Indemnifcation mandatory; standard. (a) <br />Subject to subdivision 4, a corporation sha11 indemnify a person <br />made or threatened to be made a party to a proceeding by reason <br />of the former or present official capacity of the person against <br />judgments, penalties, fines, including, without limitation, <br />excise taxes assessed against the person with respect to an <br />employee benefit plan, settlements, and reasonable expenses, <br />including attorneys fees and disbursements, incurred by the <br />person in connection with the proceeding if, with respect to <br />the acts or omissions of the person complained of in the <br />proceeding the person: <br />(1) has not been indemnified by another organization or <br />employee benefit plan for the same liability described in the <br />preceding paragraph with respect to the same acts or omissions; <br />(2) acted in good faith; <br />(3) received no improper personal benefit and section <br />3 17A255, if applicable, has been satisfied; <br />(4) in the case of a criminal proceeding did not have <br />reasonable cause to believe the conduct was unlawful; and <br />(5) in the case of acts or omissions occurring in the <br />official capacity described in subdivision 1, paragraph (c), <br />clause (1) or (2), reasonably believed that the conduct was in <br />the best interests of the corporation, or in the case of acts or <br />omissions occurring in the official capacity described in <br />subdivision 1, paragraph (c), clause (3), reasonably believed <br />that the conduct was not opposed to the best interests of the <br />corporation. If the person's acts or omissions complained of in <br />3 <br />
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