§ 58-65-174. Application of Part. - North Carolina Statutes

§58‑65‑174.  Application of Part.

(a)        If articles ofincorporation limit indemnification or advance for expenses, indemnificationand advance for expenses are valid only to the extent consistent with thearticles.

(b)        This Part does notlimit a corporation's power to pay or reimburse expenses incurred by a directorin connection with his appearance as a witness in a proceeding at a time whenhe has not been made a named defendant or respondent to the proceeding.

(c)        This Part shall notaffect rights or liabilities arising out of acts or omissions occurring beforeOctober 1, 1990. (1989 (Reg. Sess., 1990), c. 1071, s. 1.)