2013 Vermont Statutes
Title 11A Vermont Business Corporations
Chapter 8 DIRECTORS AND OFFICERS
§ 8.52 Mandatory indemnification
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 the director is or was a director of the corporation against reasonable expenses incurred by the director in connection with the proceeding. (Added 1993, No. 85, 2, eff. Jan. 1, 1994.)
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