2010 Michigan Compiled Laws
Chapter 487 - FINANCIAL INSTITUTIONS
Act 276 of 1999 - BANKING CODE OF 1999 (487.11101 - 487.15105)
276-1999-3 - CHAPTER 3 BANK ORGANIZATION AND STRUCTURE (487.13101...487.13913)
276-1999-3-9 - PART 9 ADMINISTRATION (487.13901...487.13913)
Section 487.13907 - Other rights to indemnification or advancement; limitation.

Sec. 3907.

The indemnification or advancement of expenses provided by or granted under sections 3904, 3905, and 3906 are not exclusive of other rights to which a person seeking indemnification or advancement of expenses may be entitled under the articles of incorporation, the bylaws, or a contractual agreement. The total amount of expenses advanced or indemnified from all sources combined shall not exceed the amount of actual expenses incurred by the person seeking indemnification or advancement of expenses. The indemnification provided for in sections 3904, 3905, and 3906 continues as to a person who ceases to be a director, officer, employee, or agent and shall inure to the benefit of the heirs, executors, and administrators of the person.

History: 1999, Act 276, Eff. Mar. 1, 2000