Memorandum of Law in Support of NRA’s Motion to Dismiss
This filing is the NRA’s memorandum of law in support of its motion to dismiss Oliver North’s counterclaims and affirmative defenses. This filing also makes arguments for why the court should declare that North has no right to indemnification from the NRA.
- The NRA presents its interpretation of the NRA Bylaws. (Pg. 8.) It argues that the Bylaws permit indemnification “if [board members] are entitled to it under New York law or on some basis,” but “do not create an independent right to indemnification.” (Pg. 8.)
- The NRA also argues that New York law requires a director “to show that he acted in good faith, for a purpose that he reasonable believed to be in the best interests of the [company].” (Pg. 12). The NRA claims that North did not act in good faith. (Pg. 12.)