{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2708.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2708.1","heading":"No personal liability - Indemnification and","body":"reimbursement - Insurance.\n\nA. The officers and members of the supreme governing body or\n\nany subordinate body of a society shall not be personally liable for\n\nany benefits provided by a society.\n\nB. Any person may be indemnified and reimbursed by any society\n\nfor expenses reasonably incurred by, and liabilities imposed upon,\n\nsuch person in connection with or arising out of any action, suit or\n\nproceeding, whether civil, criminal, administrative or\n\ninvestigative, or threat thereof, in which the person may be\n\ninvolved by reason of the fact that he or she is or was a director,\n\nofficer, employee or agent of the society or of any firm,\n\ncorporation or organization which he or she served in any capacity\n\nat the request of the society. A person shall not be so indemnified\n\nor reimbursed:\n\n1. In relation to any matter in such action, suit or proceeding\n\nas to which he or she shall finally be adjudged to be or have been\n\nguilty of breach of a duty as a director, officer, employee or agent\n\nof the society; or\n\n2. In relation to any matter in such action, suit or\n\nproceeding, or threat thereof, which has been made the subject of a\n\ncompromise settlement,\n\nunless in either such case the person acted in good faith for a\n\npurpose the person reasonably believed to be in or not opposed to\n\nthe best interests of the society and, in a criminal action or\n\nproceeding, in addition, had no reasonable cause to believe that his\n\nor her conduct was unlawful. The determination whether the conduct\n\nof such person met the standard required in order to justify\n\nindemnification and reimbursement in relation to any matter\n\ndescribed in paragraph 1 or 2 of this subsection may only be made by\n\nthe supreme governing body or board of directors by a majority vote\n\nof a quorum consisting of persons who were not parties to such\n\naction, suit or proceeding or by a court of competent jurisdiction.\n\nThe termination of any action, suit or proceeding by judgment,\n\norder, settlement, conviction, or upon a plea of no contest, as to\n\nsuch person shall not in itself create a conclusive presumption that\n\nthe person did not meet the standard of conduct required in order to\n\njustify indemnification and reimbursement. The foregoing right of\n\nindemnification and reimbursement shall not be exclusive of other\n\nrights to which such person may be entitled as a matter of law and\n\nshall inure to the benefit of his or her heirs, executors and\n\nadministrators.\n\nC. A society shall have power to purchase and maintain\n\ninsurance on behalf of any person who is or was a director, officer,\n\nemployee or agent of the society, or who is or was serving at the\n\nrequest of the society as a director, officer, employee or agent of\n\nany other firm, corporation, or organization against any liability\n\nasserted against such person and incurred by him or her in any such\n\ncapacity or arising out of his or her status as such, whether or not\n\nthe society would have the power to indemnify the person against\n\nsuch liability under this section.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"669a9aad64eed8c908fdf6e520d5d70d8dbaed889a88394cd623c6f13cbe0fe6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2707.1","next":"us-ok/okla.-stat.-tit.-36-36-2709.1"},"notice":"GroundRules: Original legal text. Not legal advice."}