Va. Code § 13.1-877

Current with changes from the 2024 legislative session through ch. 845

Section 13.1-877 - Mandatory indemnification

Unless limited by its articles of incorporation, a corporation shall indemnify a director who entirely prevails in the defense of any proceeding to which he was a party because he is or was a director of the corporation against reasonable expenses incurred by him in connection with the proceeding.

Va. Code § 13.1-877

Code 1950, § 13.1-205.1; 1968, c. 689; 1975, c. 500; 1981, c. 57; 1985, c. 522.

Amended by Acts 1985, § c. 522.

Amended by Acts 1981, § c. 57.

Amended by Acts 1975, § c. 500.

Amended by Acts 1968, § c. 689.