16-16-901 - Indemnification.
16-16-901. Indemnification.
(1) Indemnification of an individual who has incurred liability or is a party, or isthreatened to be made a party, to litigation because of the performance of a duty to, or activity onbehalf of, a limited cooperative association is governed by Title 3, Uniform AgriculturalCooperative Association Act.
(2) A limited cooperative association may purchase and maintain insurance on behalf ofany individual against liability asserted against or incurred by the individual to the same extentand subject to the same conditions as provided by Title 3, Uniform Agricultural CooperativeAssociation Act.
Enacted by Chapter 363, 2008 General Session