A corporation created under this chapter has the power to indemnify a person who was or is a party or is threatened to be made a party to a threatened, pending or completed legal action or proceeding, whether formal or informal, by reason of the fact that he or she is or was a director, officer, employee, or agent of the corporation against expenses, including attorneys’ fees, judgments, penalties, fines or amounts paid in settlement actually and reasonably incurred by him or her in connection with the action or proceeding, if the person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation or its shareholders, if any. [Ord. 18-23 Art. III §  9.07.30, approved 6/12/23.]