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S-17.4 - Act respecting Société Innovatech Québec et Chaudière-Appalaches
Section 15
Disposition versions
15. The Société shall take up the defence of its directors prosecuted by a third person for an act done in the exercise of their functions and shall pay damages, if any, resulting from that act, unless they have committed a fault or a personal fault separable from the exercise of their functions.
Notwithstanding the foregoing, in a penal or criminal proceeding the Société shall assume the payment of the expenses of its directors only if they had reasonable grounds to believe that their conduct was in conformity with the law, or if they have been discharged or acquitted.
