2011 Montana Code Annotated
TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS
CHAPTER 1. BUSINESS CORPORATIONS
Part 4. Directors and Officers
35-1-457. Indemnification of officers, employees, and agents.
35-1-457. Indemnification of officers, employees, and agents. Unless a corporation's articles of incorporation provide otherwise:
(1) an officer of the corporation who is not a director is entitled to mandatory indemnification under 35-1-453 and is entitled to apply for court-ordered indemnification under 35-1-455 to the same extent as a director;
(2) the corporation may indemnify and advance expenses under 35-1-451 through 35-1-459 to an officer, employee, or agent of the corporation who is not a director to the same extent as to a director; and
(3) a corporation may also indemnify and advance expenses to an officer, employee, or agent who is not a director to the extent, consistent with public policy, that may be provided by its articles of incorporation, bylaws, general or specific action of its board of directors, or contract.
History: En. Sec. 105, Ch. 368, L. 1991.
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