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2018 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 31 - SOUTH CAROLINA NONPROFIT CORPORATION ACT
Section 33-31-852. Mandatory indemnification.
Universal Citation: SC Code § 33-31-852 (2018)
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 a proceeding to which the director was a party because he is or was a director of the corporation against reasonable expenses actually incurred by the director in connection with the proceeding.
HISTORY: 1994 Act No. 384, Section 1.
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