Special Process Condition. With respect to Liability to the Fund or its shareholders, no indemnification shall be made unless a determination has been made by reasonable and fair means that the Board Member has not engaged in disabling conduct. Such reasonable and fair means shall be established in conformity with then applicable law and administrative interpretations. In any determination with respect to disabling conduct, a [director] requesting indemnification who is not an "interested person" of the [Corporation], as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended, shall be afforded a rebuttable presumption that such [director] [trustee]did not engage in such conduct while acting in his or her capacity as a [director] [trustee].
Appears in 5 contracts
Sources: Indemnification Agreement (Cash Management Trust of America), Indemnification Agreement (Fundamental Investors Inc), Shareholder Services Agreement (Income Fund of America Inc)