Mandatory Indemnification of Director for Expenses of Successful Defense of Proceeding

1. Law
2. Indiana Code
3. Financial Institutions
4. Corporate Governance
5. Indemnification of Directors
6. Mandatory Indemnification of Director for Expenses of Successful Defense of Proceeding

Sec. 9. 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.

As added by P.L.14-1992, SEC.163.

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