{"data":{"id":"us-ky/krs-272a.9-010","jurisdiction":"us-ky","citation":"KRS 272A.9-010","heading":"Indemnification and advancement.","body":"(1) The organic rules may provide indemnification to a director for judgments,\nsettlements, penalties, fines, or expenses incurred in a proceeding to which a\ndirector is a party because the person is a director.\n(2) No indemnification may be provided for condu ct violating the standards in effect\npursuant to KRS 272A.8-180.\n(3) The organic rules may provide that the limited cooperative association may advance\nexpenses, including reasonable attorney's fees and costs, incurred by a director in\nconnection with a cl aim or demand against the director by reason of the director's\nrelationship to an association before the final disposition of the claim or demand,\nupon an undertaking by or on behalf of the director to repay the association if the\ndirector is ultimately de termined not to be entitled to be indemnified under\nsubsection (2) of this section. The terms of the undertaking shall be as set forth in\nthe organic rules or as approved by the disinterested director and shall be in a\nrecord.\n(4) The organic rules may provide for the indemnification of and advancement to other\npersons including committee members who are not directors.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41052","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:22Z","sha256":"0fb3fe4e73189da5ed4c7b7283ea089b6f791b6061b2e8dbf2a1a8180d47316a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.8-220","next":"us-ky/krs-273.010"},"notice":"GroundRules: Original legal text. Not legal advice."}