Relates to the indemnification of directors, officers and key persons; ensures the survival of indemnification in case of a merger or consolidation.

The bill amends the not-for-profit corporation law to repeal and replace sections related to indemnification of directors, officers, and key persons. It ensures that indemnification rights survive mergers or consolidations and continue to benefit former directors, officers, key persons, and their heirs and estate. The bill also allows for the indemnification of expenses, including attorneys' fees and court costs, incurred in defending against civil, criminal, administrative, or investigative actions.

Relates to the indemnification of directors, officers and key persons; ensures the survival of indemnification in case of a merger or consolidation.

The bill amends the not-for-profit corporation law to repeal and replace sections related to indemnification of directors, officers, and key persons. It ensures that indemnification rights survive mergers or consolidations and continue to benefit former directors, officers, key persons, and their heirs and estate. The bill also allows for the indemnification of expenses, including attorneys' fees and court costs, incurred in defending against civil, criminal, administrative, or investigative actions.