Section 10-2B-8.52 Mandatory indemnification. - Alabama Statutes

Section 10-2B-8.52

Mandatory indemnification.

A corporation shall indemnify a director who was successful, on the merits or otherwise, in the defense of any proceeding, or of any claim, issue or matter in such proceeding, where he or she was a party because he or she is or was a director of the corporation, against reasonable expenses incurred in connection therewith, notwithstanding that he or she was not successful on any other claim, issue or matter in any such proceeding.

(Acts 1994, No. 94-245, p. 343, §1.)