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The Vermont Statutes Online

 

Title 11A : Vermont Business Corporations

Chapter 008 : DIRECTORS AND OFFICERS

Subchapter 005 : INDEMNIFICATION

(Cite as: 11A V.S.A. § 8.52)
  • § 8.52. Mandatory indemnification

    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. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)