Code of Virginia § 13.1-877. Mandatory indemnification.
65 words·~1 min read·
/va/title-13-1/chapter-10/13-1-877A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Unless limited by its articles of incorporation, a corporation shall indemnify a director who entirely prevails in the defense of any proceeding to which he was a party because he is or was a director of the corporation against reasonable expenses incurred by him in connection with the proceeding.
Code 1950, § 13.1-205.1; 1968, c. 689; 1975, c. 500; 1981, c. 57; 1985, c. 522.