Indemnification of directors.

355.471. Indemnification of directors. — Unless limited by its articles of incorporation or bylaws, a corporation shall indemnify a director who was successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the director is or was a director of the corporation against reasonable expenses actually incurred by the director in connection with the proceeding. (L. 1994 H.B. 1095, A.L. 1997 H.B. 655 merged with S.B. 170) Effective 6-24-97 (H.B. 655); 5-20-97 (S.B. 170)