238.342. Indemnification of directors, employees. - Missouri Statutes

Indemnification of directors, employees.

238.342. 1. The corporation may indemnify any current orformer director or employee for expenses actually and reasonablyincurred by him in connection with any claim asserted againsthim in the absence of his gross negligence, intentionalmisconduct, or other willful and wrongful acts or omissions.

2. If the corporation has not fully indemnified him, thecourt in the proceeding in which any claim against such directoror employee has been asserted or any court having thejurisdiction of an action instituted by such director oremployee on his claim for indemnity may assess indemnity againstthe corporation, its receiver, or trustee for expensesauthorized by this section.

(L. 1990 S.B. 479 & 649 § 27)

Effective 5-30-90