2013 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 31 - SOUTH CAROLINA NONPROFIT CORPORATION ACT
SECTION 33-31-856. Indemnification of officers, employees, and agents.
Unless limited by a corporation's articles of incorporation:
(1) an officer of the corporation who is not a director is entitled to mandatory indemnification under Section 33-31-852 and is entitled to apply for court-ordered indemnification under Section 33-31-854 in each case, to the same extent as a director;
(2) the corporation may indemnify and advance expenses under this chapter 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 also may 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: 1994 Act No. 384, Section 1.
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