Va. Code § 13.1-698

Current with changes from the 2024 legislative session through ch. 845

Section 13.1-698 - 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 expenses incurred by the director in connection with the proceeding.

Va. Code § 13.1-698

Code 1950, § 13.1-3.1; 1968, c. 570; 1975, c. 500; 1979, c. 99; 1985, c. 522; 2019, c. 734.

Amended by Acts 2019 c. 734, § 1, eff. 7/1/2019.