§ 58-65-168. Mandatory indemnification. - North Carolina Statutes

§58‑65‑168.  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. (1989(Reg. Sess., 1990), c. 1071, s. 1.)