S-25.1 - Act respecting the sociétés d’entraide économique

Section 74 Disposition versions

1982-03-01

74. A company shall assume the defence of its director or other mandatary prosecuted by a third person for an act done in the exercise of his duties and shall pay damages, if any, resulting from that act, unless he has committed a grievous offence or a personal offence separable from the exercise of his duties.

However, in a penal or criminal proceeding, the company shall assume only the payment of the expenses of its director or other mandatary if he had reasonable grounds to believe that his conduct was in conformity with the law, or the payment of the expenses of its director or other mandatary if he has been freed or acquitted.

1981, c. 31, s. 74.