16-10a-903. Mandatory indemnification of directors.
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Effective 5/7/2025
16-10a-903. Mandatory indemnification of directors.
Unless limited by its articles of incorporation, a corporation shall indemnify a director who was successful, on the merits or otherwise, in the defense of any proceeding, or in the defense of any claim, issue, or matter in the 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 or claim with respect to which the director has been successful.
Amended by Chapter 302 , 2025 General Session