Section 10-2B-8.56 Indemnification of officers, employees, and agents. - Alabama Statutes

Section 10-2B-8.56

Indemnification of officers, employees, and agents.

(a) An officer of a corporation who is not a director is entitled to mandatory indemnification under Section 10-2B-8.52, and is entitled to apply for court-ordered indemnification under Section 10-2B-8.54, in each case to the same extent as a director.

(b) A corporation may indemnify and may advance expenses under Division E of this article to an officer, employee, or agent of the corporation who is not a director to the same extent as to a director.

(Acts 1994, No. 94-245, p. 343, §1.)