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Mandatory indemnification

11A V.S.A. § 8.52
in effect
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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 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.
Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/section/11A/008/00008.52Fetched: 10/21/2026

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