Sec. 9. Unless limited by articles of incorporation, a corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of a 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.
As added by P.L.179-1991, SEC.1.
Structure Indiana Code
Title 23. Business and Other Associations
Article 17. Nonprofit Corporations
23-17-16-1. Corporation Defined
23-17-16-3. Expenses as Including Attorney's Fees
23-17-16-5. Official Capacity Defined
23-17-16-7. Proceeding Defined
23-17-16-9. Director Wholly Successful in Defense of Proceeding
23-17-16-10. Reasonable Expense Payments in Advance of Final Disposition
23-17-16-11. Application to Court; Grounds for Ordering Indemnification
23-17-16-13. Indemnification of Officers, Employees, and Agents
23-17-16-14. Purchase of Insurance
23-17-16-15. Other Rights to Indemnification; Reimbursement of Expenses of Appearing as Witness