§ 8.56.
113 words·~1 min read·
/vt/8-56A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 8.56. Indemnification of officers, employees, and agents
Unless a corporation’s articles of incorporation limit indemnification of an officer, employee, or agent of the corporation:
(1)an officer of the corporation who is not a director is entitled to mandatory indemnification under section 8.52 of this title, and is entitled to apply for court-ordered indemnification under section 8.54 of this title, in each case to the same extent as a director;
(2)the corporation may indemnify and advance expenses under this subchapter to an officer, employee, or agent of the corporation who is not a director to the same extent as a director. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)