Indemnification of officers, directors, employees and agents; insurance
- Statute:
- Illinois §108.75 · Act NP (General Not For Profit Corporation Act of 1986)
- Topic:
- Insurance & Liability · Indemnification and D&O
- Applies to:
- Nonprofit associations
The corporation may indemnify directors, officers, employees, and agents, and may buy insurance, on the terms this section sets. CPA §12 separately requires directors-and-officers liability coverage for condominium associations.
📄 Read the official text at ilga.gov →
How SoShiny helps with Indemnification of officers, directors, employees and agents; insurance
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does Illinois §108.75 require?
- The corporation may indemnify directors, officers, employees, and agents, and may buy insurance, on the terms this section sets. CPA §12 separately requires directors-and-officers liability coverage for condominium associations.
- Who does Illinois §108.75 apply to?
- Illinois §108.75 applies to Nonprofit associations in Illinois.
- What happens if our nonprofit corporation doesn't comply with §108.75?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for Illinois community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of Illinois §108.75?
- The official text is published by the Illinois General Assembly at ilga.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Indemnification of officers, directors, employees and agents; insurance?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of Illinois §108.75 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Illinois-licensed attorney. For the official statutory text, see the link above.
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