13.1-702 - Indemnification of officers. - Virginia Statutes

§ 13.1-702. Indemnification of officers.

Unless limited by a corporation's articles of incorporation:

1. An officer of the corporation is entitled to mandatory indemnificationunder § 13.1-698, and is entitled to apply for court-ordered indemnificationunder § 13.1-700.1, in each case to the same extent as a director; and

2. The corporation may indemnify and advance expenses under this article toan officer of the corporation to the same extent as to a director.

(Code 1950, § 13.1-3.1; 1968, c. 570; 1975, c. 500; 1979, c. 99; 1985, c.522; 2005, c. 765.)