The Vermont Statutes Online
Title 11B : Nonprofit Corporations
Chapter 008 : DIRECTORS AND OFFICERS
Subchapter 005 : INDEMNIFICATION
(Cite as: 11B 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 he or she is or was a director of the corporation against reasonable expenses, reasonably incurred by the director in connection with the proceeding. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)
