§ 4-33-856 - Indemnification of officers, employees and agents. - Arkansas Statutes

4-33-856. Indemnification of officers, employees and agents.

Unless limited by a corporation's articles of incorporation:

(1) an officer of the corporation who is not a director is entitled to mandatory indemnification under 4-33-852, and is entitled to apply for court-ordered indemnification under 4-33-854 in each case, to the same extent as a director;

(2) the corporation may indemnify and advance expenses under this part to an officer, employee, or agent of the corporation who is not a director to the same extent as to a director; and

(3) a corporation may also indemnify and advance expenses to an officer, employee, or agent who is not a director to the extent, consistent with public policy, that may be provided by its articles of incorporation, bylaws, general or specific action of its board of directors, or contract.