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 he or she is or was a director of the corporation against reasonable expenses actually incurred by the director in connection with the proceeding.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 33 - The Arkansas Nonprofit Corporation Act of 1993
Subchapter 8 - Directors and Officers
§ 4-33-851. Authority to indemnify
§ 4-33-852. Mandatory indemnification
§ 4-33-853. Advance for expenses
§ 4-33-854. Court-ordered indemnification
§ 4-33-855. Determination and authorization of indemnification
§ 4-33-856. Indemnification of officers, employees and agents