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the Vermont Statutes
2011 Vermont Code
Title 11B Nonprofit Corporations
Chapter 8 DIRECTORS AND OFFICERS
§ 52 Mandatory indemnification
Universal Citation:
11B VT Stats § 8.52. (2011 through Adj Sess)
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§ 8.52. 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 he or she is or was a director of the corporation against reasonable expenses, reasonably incurred by the director in connection with the proceeding. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)
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