§ 55-8-52. Mandatory indemnification. - North Carolina Statutes

§55‑8‑52.  Mandatory indemnification.

Unless limited by its articlesof incorporation, a corporation shall indemnify a director who was whollysuccessful, on the merits or otherwise, in the defense of any proceeding towhich he was a party because he is or was a director of the corporation againstreasonable expenses incurred by him in connection with the proceeding. (1955,c. 1371, s. 1; 1969, c. 797, ss. 2, 3; 1973, c. 469, s. 6; 1985 (Reg. Sess.,1986), c. 1027, ss. 39, 40; 1989, c. 265, s. 1.)