N.C. Gen. Stat. § 55-8-52

Current through Session Law 2024-56

Section 55-8-52 - 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 he was a party because he is or was a director of the corporation against reasonable expenses incurred by him in connection with the proceeding.

N.C. Gen. Stat. § 55-8-52

1955, c. 1371, s. 1; 1969, c. 797, ss.2, 3; 1973, c. 469, s. 6; 1985 Reg. Sess., 1986 , c.1027, ss. 39, 40; 1989, c. 265, s. 1.