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2021 Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 2. Nonprofit Corporations
Part 4. Directors and Officers -- Indemnification
35-2-448. Mandatory indemnification
Universal Citation: MT Code § 35-2-448 (2021)
35-2-448. Mandatory indemnification. Unless limited by its articles of incorporation, a corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the individual is or was a director of the corporation, against reasonable expenses actually incurred by the director in connection with the proceeding.
History: En. Sec. 103, Ch. 411, L. 1991; amd. Sec. 1282, Ch. 56, L. 2009.
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