Arkansas § 4-33-856 Indemnification of officers, employees and agents

Arkansas Statutes

§ 4-33-856 — Indemnification of officers, employees and agents

Unless limited by a corporation's articles of incorporation:

(1)an officer of the corporation who is not a director is entitled to mandatory indemnification under § 4-33-852 , and is entitled to apply for court-ordered indemnification under § 4-33-854 in each case, to the same extent as a director;

(2)the corporation may indemnify and advance expenses under this part to an officer, employee, or agent of the corporation who is not a director to the same extent as to a director; and (3) a corporation may also indemnify and advance expenses to an officer, employee, or agent who is not a director to the extent, consistent with public policy, that may be provided by its articles of incorporation, bylaws, general or specific action of its board of directors, or contract.

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Unless limited by a corporation's articles of incorporation: (1) an officer of the corporation who is not a director is entitled to mandatory indemnification under § 4-33-852 , and is entitled to apply for court-ordered indemnification under § 4-33-854 in each case, to the same extent as a director; (2) the corporation may indemnify and advance expenses under this part to an officer, employee, or agent of the corporation who is not a director to the same extent as to a director; and (3) a corporation may also indemnify and advance expenses to an officer, employee, or agent who is not a director to the extent, consistent with public policy, that may be provided by its articles of incorporation, bylaws, general or specific action of its board of directors, or contract.

Arkansas § 4-33-856 (Indemnification of officers, employees and agents) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.