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 was a director of the corporation against expenses incurred by the director in connection with the proceeding.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
This section is referenced in § 29-306.53, § 29-306.54, and § 29-306.56.
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Chapter 3 - Business Corporations
Subchapter VI - Directors and Officers
Part E - Indemnification and Advance for Expenses
§ 29–306.51. Permissible indemnification
§ 29–306.52. Mandatory indemnification
§ 29–306.53. Advance for expenses
§ 29–306.54. Court-ordered indemnification and advance for expenses
§ 29–306.55. Determination and authorization of indemnification
§ 29–306.56. Indemnification of officers
§ 29–306.58. Variation by corporate action; application of part