13.1-698 - Mandatory indemnification. - Virginia Statutes

§ 13.1-698. Mandatory indemnification.

Unless limited by its articles of incorporation, a corporation shallindemnify a director who entirely prevails in the defense of any proceedingto which he was a party because he is or was a director of the corporationagainst reasonable expenses incurred by him in connection with the proceeding.

(Code 1950, § 13.1-3.1; 1968, c. 570; 1975, c. 500; 1979, c. 99; 1985, c.522.)