Aid for legal proceedings: board funds restricted to legal expenses; mandatory periodic reporting and post-proceeding utilization statement. Aid for legal proceedings is confined to meeting legal expenses incurred by an Investors' Association for specified proceedings; the Board provides such aid subject to strict usage limitations. The Association must furnish periodic reports of the legal proceedings to the Board as required, and following conclusion of the proceedings must submit a detailed report together with a self-certified statement describing the utilization of the aid.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Aid for legal proceedings: board funds restricted to legal expenses; mandatory periodic reporting and post-proceeding utilization statement.
Aid for legal proceedings is confined to meeting legal expenses incurred by an Investors' Association for specified proceedings; the Board provides such aid subject to strict usage limitations. The Association must furnish periodic reports of the legal proceedings to the Board as required, and following conclusion of the proceedings must submit a detailed report together with a self-certified statement describing the utilization of the aid.
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