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

§55A‑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 proceedings towhich the director was a party because he is or was a director of thecorporation against reasonable expenses actually incurred by the director inconnection with the proceeding. (1977, c. 236, s. 2; 1993, c.398, s. 1.)