Section 10-2B-16.21 Other reports to shareholders. - Alabama Statutes

Section 10-2B-16.21

Other reports to shareholders.

If a corporation indemnifies or advances expenses to a director under Section 10-2B-8.51, 10-2B-8.53, or 10-2B-8.54 in connection with a proceeding by or in the right of the corporation, the corporation shall report the indemnification or advance in writing to the shareholders with or before the notice of the next shareholders' meeting.

(Acts 1994, No. 94-245, p. 343, §1.)