§ 907.
115 words·~1 min read·
/vt/907A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 907. Indemnification of officers, employees, and agents
Unless an enterprise’s articles of organization limit indemnification of an officer, employee, or agent of the enterprise:
(1)an officer of the enterprise who is not a director is entitled to mandatory indemnification under section 903 of this title and is entitled to apply for court-ordered indemnification under section 905 of this title, in each case to the same extent as a director;
(2)the enterprise may indemnify and advance expenses under this article to an officer, employee, or agent of the enterprise who is not a director to the same extent as a director. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)