A corporation may indemnify and advance expenses under this subarticle to an officer of the corporation who is a party to a proceeding because he is an officer of the corporation:
The provisions of subsection (a)(2) shall apply to an officer who is also a director if the basis on which he is made a party to the proceeding is an act or omission solely as an officer.
An officer of a corporation who is not a director is entitled to mandatory indemnification under Section 79-4-8.52, and may apply to a court under Section 79-4-8.54 for indemnification or an advance for expenses, in each case to the same extent to which a director may be entitled to indemnification or advance for expenses under those provisions.
Structure Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 4 - Mississippi Business Corporation Act
Article 8 - Directors and Officers
§ 79-4-8.50. Subarticle definitions
§ 79-4-8.51. Authority to indemnify
§ 79-4-8.52. Mandatory indemnification
§ 79-4-8.53. Advance for expenses
§ 79-4-8.54. Court-ordered indemnification
§ 79-4-8.55. Determination and authorization of indemnification
§ 79-4-8.56. Indemnification of officers