2006 Code of Virginia § 13.1-702 - Indemnification of officers
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.)
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