11A V.S.A. § 8.52

Mandatory indemnification

Last amended: 1993Year: 2026Length: 58 wordsOfficial source
Unless limited by its articles of incorporation, a corporation shall indemnify a director who was wholly 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 incurred by the director in connection with the proceeding.
11A V.S.A. § 8.52: Mandatory indemnification | Justis AI